Supreme Court justices wrestled Monday with the uncomfortable bargain struck between most victims of the opioid crisis and the Sackler family, whose Purdue Pharma promoted the addictive painkiller OxyContin: providing timely compensation for survivors in exchange for granting the wealthy family immunity from future civil lawsuits.
Tag: Sackler family
Supreme Court to Decide on Legality of OxyContin Maker’s Settlement Plan with Victims of Opioid Crisis
n exchange for giving up ownership of drug manufacturer Purdue Pharma and for contributing up to $6 billion to fight the crisis, members of the wealthy Sackler family would be exempt from any civil lawsuits.
Sackler Family Will Be Shielded from Lawsuits as Part of $6B OxyCotin Settlement
A federal appeals court cleared the way for the maker of OxyContin to settle thousands of legal claims tied to the opioid epidemic while shielding the wealthy owners of Purdue Pharma, the Sackler family, from future lawsuits.
Purdue Pharma Squares Off with DOJ Over $6 Billion OxyContin Deal
A $6 billion deal is at stake as OxyContin maker Purdue Pharma LP and its wealthy owners clash with the U.S. Justice Department over the company’s opioid lawsuit settlement. The parties will argue in a New York courtroom on Friday over a plan to funnel billions of dollars to opioid crisis relief efforts while also… Continue reading Purdue Pharma Squares Off with DOJ Over $6 Billion OxyContin Deal
Sacklers and Purdue Pharma Reach New Deal with States Over Opioids
Members of the billionaire Sackler family and their company, Purdue Pharma, have reached a deal with a group of states that had long resisted the company’s bankruptcy plan — a crucial step toward funneling billions of dollars from the family’s fortune to addiction treatment programs nationwide, according to a court filing on Thursday. If Judge… Continue reading Sacklers and Purdue Pharma Reach New Deal with States Over Opioids
Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement
According to people familiar with the talks, members of the billionaire Sackler family, who own Purdue Pharma LP, are debating whether to add $1 billion to the OxyContin maker’s faltering opioid settlement bid in an effort to win over holdouts. The move would bring the family’s total contribution to $5.325 billion to get a handful… Continue reading Purdue’s Sacklers Consider Adding Another $1 Billion to Opioid Settlement
Purdue Pharma Seeks to Appeal Ruling Overturning Opioid Settlement, Liability Shield
According to a court filing late Thursday, Purdue Pharma is seeking to appeal to the 2nd U.S. Circuit Court of Appeals a judge’s decision to unravel its restructuring plan, which would have shielded its owners from liability in civil opioid-related cases. The appeal came after U.S. Bankruptcy Judge Robert Drain in White Plains, New York,… Continue reading Purdue Pharma Seeks to Appeal Ruling Overturning Opioid Settlement, Liability Shield
Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims
The billionaire Sackler family that created the company could not be released from legal claims over the opioid epidemic, according to a federal judge who has upended the bankruptcy plan of OxyContin maker Purdue Pharma. In a 142-page ruling, U.S. District Judge Colleen McMahon in New York said that the controversial provision to grant the… Continue reading Judge Overturns Deal Giving Purdue Pharma’s Sackler Family Civil Immunity from Opioid Claims
Purdue’s Sackler: Family Has ‘Responsibility’ to Help Curb Opioid Crisis but Wants Liability Shields
A member of the Sackler family that owns Purdue Pharma testified on Tuesday that his family bears a “moral responsibility” to help abate the U.S. opioid crisis but said it will not contribute financially to the effort unless it receives broad legal protections. The OxyContin maker last week kicked off its long-awaited bankruptcy trial over… Continue reading Purdue’s Sackler: Family Has ‘Responsibility’ to Help Curb Opioid Crisis but Wants Liability Shields
15 States Reach Deal with Purdue Pharma Toward $4.5B Opioid Settlement
More than a dozen states have dropped their objections to a bankruptcy plan by Purdue Pharma that would shift the OxyContin producer toward giving more money to help fight the opioid crisis in the United States. The decision by 15 states was outlined in new documents filed by a mediator in the case and shows… Continue reading 15 States Reach Deal with Purdue Pharma Toward $4.5B Opioid Settlement