The market had already priced in all the future judgments, it's not like these lawsuits are a secret.

> The market had already priced in all the future judgments

The market has already priced in what it anticipates the future judgements will be (but that expectation may be wrong; for instance it could be $0—in which case GPs only if there are no future judgements is literally correct—but there may turn out to be substantial future judgements.)

If the market had already priced in all future events, the price would never move.

> If the market had already priced in all future events, the price would never move.

I don't think that holds. Let's say we all knew everything about the future, and we all use it to instantaneously and perfectly compute The Right Price for every security. We all know that this stock will pay out a total of $X in dividends over the next Y years before the company goes out of business, and what all the future prices will be. Time moves forward, we pass a dividend payment. I think the price of the stock has to fall?

But since you know everything about the future, you already know that the company will pay future dividends. That would be instantaneously priced in to your perfect information scenario.

The dividend payment isn't unexpected - we all knew it would happen on that day. But since it's in the past now instead of the future, the stock is going to be paying out ($X - $d) instead of $X in what remains of the company's life.

There could be follow-up judgments that don't behave as the market would expect, and move the price. The opioid epidemic has a long and complex history. I'm not too sure this is the legal end of it for them.