Posted on May 31, 2023
A landmark appeals court ruling clears way for Purdue Pharma-Sackler bankruptcy deal
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https://www.npr.org/2023/05/30/ [login to see] /sackler-family-purdue-pharma-immunity-lawsuits-oxycontin-opioid
In a landmark ruling Tuesday, a federal appeals court in New York cleared the way for a bankruptcy deal for opioid manufacturer Purdue Pharma.
The deal will shield members of the Sackler family, who own the company, from future lawsuits.
The 2nd Circuit Court of Appeals spent more than a year reviewing the case after a lower court ruled it was improper for Purdue Pharma's bankruptcy deal to block future opioid-related lawsuits against the Sackler family.
The Sacklers earned billions of dollars from the sale of OxyContin and other opioid pain medications.
This latest ruling overturns the lower court's December 2021 decision and clears the way for a deal hashed out with thousands of state and local governments.
As part of the bankruptcy settlement, the Sacklers are expected to pay roughly $5 to $6 billion and give up control of Purdue Pharma.
In a landmark ruling Tuesday, a federal appeals court in New York cleared the way for a bankruptcy deal for opioid manufacturer Purdue Pharma.
The deal will shield members of the Sackler family, who own the company, from future lawsuits.
The 2nd Circuit Court of Appeals spent more than a year reviewing the case after a lower court ruled it was improper for Purdue Pharma's bankruptcy deal to block future opioid-related lawsuits against the Sackler family.
The Sacklers earned billions of dollars from the sale of OxyContin and other opioid pain medications.
This latest ruling overturns the lower court's December 2021 decision and clears the way for a deal hashed out with thousands of state and local governments.
As part of the bankruptcy settlement, the Sacklers are expected to pay roughly $5 to $6 billion and give up control of Purdue Pharma.
A landmark appeals court ruling clears way for Purdue Pharma-Sackler bankruptcy deal
Posted from npr.org
Medical
Health
Bankruptcy
Pharmaceuticals
Posted >1 y ago
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Opioids III: The Sacklers: Last Week Tonight with John Oliver (HBO)
John Oliver explains how the Sackler family has been handling lawsuits related to the opioid crisis, how hard they’ve been fighting to defend their name, and...
Deal may benefit Sackler family more than victims, families or governments who spent money fighting the addictive drugs that were legally prescribed under false pretenses.
https://www.youtube.com/watch?v=uaCaIhfETsM
https://www.youtube.com/watch?v=uaCaIhfETsM
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PO1 William "Chip" Nagel
Sackler family can be shielded from opioid lawsuits, court rules
The wealthy owners of Purdue Pharma will be protected in exchange for a multi-billion dollar settlement.
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