Purdue Pharma Seeks Further Legal Protections for Sackler Family
An agreement could clear the path for the company to exit bankruptcy and distribute billions of dollars to governments hard hit by the addiction crisis.
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Purdue Pharma is intending to ask a bankruptcy judge to extend a legal shield that prevents opioid lawsuits from going forward against some members of the wealthy Sackler family who own the OxyContin maker as they attempt to reach a deal with eight states and the District of Columbia to resolve litigation alleging they fueled the opioid epidemic, reports Reuters. U.S. Bankruptcy Judge Shelley Chapman, who is mediating talks between the Sacklers and the attorneys general, said in court filings in recent weeks that the parties were close to an agreement and the Sacklers would make a “substantial” additional contribution beyond the $4.33 billion proposed in the original bankruptcy exit plan. An agreement could clear the path for the company to exit bankruptcy and distribute billions of dollars to governments hard hit by the addiction crisis after a previous $4.33 billion settlement was rejected in December of 2021 on appeal by a U.S. District judge in Manhattan.
