Sacklers win appeal that shields them from opioid lawsuits, clearing way for bankruptcy settlement
A federal appeals court ruled Tuesday Purdue Pharma can shield its owners from thousands of lawsuits related to the opioid crisis in exchange for a contribution up to $6 billion…
A federal appeals court ruled Tuesday Purdue Pharma can shield its owners — members of the wealthy Sackler family — from thousands of lawsuits over the role the company played in the opioid crisis in exchange for a contribution of up to $6 billion to a proposed bankruptcy settlement.
The Sackler family members insisted a bankruptcy deal would not be possible unless they were released from all future liability related to the harm caused by Purdue’s OxyContin painkiller. Their insistence became a sticking point, since unlike Purdue — which filed for bankruptcy protection — none of the Sackler family members and their many associates had taken the same step.
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