$100 Million Settlement Reached For Meningitis Victims Linked to Framingham Pharmacy

Originally posted on May 6. Updated on May 7 for newsletter.

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A $100 million settlement for the victims of a deadly fungal meningitis outbreak that was linked to Framingham-based New England Compounding Center was filed in U.S. Bankruptcy Court in Boston on Tuesday.

Editor's Note: I am Night 4 of Town Meeting and will have a full report later.

The settlement still requires approval from Judge Henry J. Boroff before distributions can be made to victims.

A trustee, Paul D. Moore, who was assigned to the case, said in a statement, he hoped the process could be completed by the end of 2014.

"The commitment from the outset of the shareholders of NECC and their families to make a substantial contribution to a fund for those who died or suffered significant injuries as a result of the outbreak resulted in an expeditious consensual agreement with them," Moore said in a statement.

In 2012, the owners of New England Compounding Center filed for bankrupty.

Under the agreement, the owner would personally be responsible to contribute $50 million to the settlement fund. Insurers would be expected to contribute another $25 million.

More than 750 individuals and at least 64 people died in 20 states - none in Massachusetts - from a meningitis outbreak linked to tainted steroids manufactured at the Framingham-based New England Compounding Center.