NEW YORK—Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company’s broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. The New York-based 2nd U.S. Circuit Court of Appeals said that U.S. bankruptcy law allows legal…
Purdue Pharma Can Protect Sackler Owners in Opioid Bankruptcy, Court Rules
Canadian Governments OK Settlement With Purdue Pharma Over Opioid Addictions
A proposed $150-million settlement with Purdue Pharma Canada covering all provinces and territories has been reached for the recovery of health-care costs related to the sale and marketing of opioid-based pain medication. British Columbia Attorney General David Eby said Wednesday that it’s the largest settlement of a governmental health-care cost claim in Canadian history. The…
Purdue Pharma Mediator Extends Talks to Resolve Sackler Liability for Opioid Epidemic
NEW YORK—A U.S. mediator on Wednesday extended a deadline for negotiations by the owners of Purdue Pharma LP to resolve litigation alleging that they fueled the opioid epidemic, and bring the OxyContin maker a step closer to exiting bankruptcy. Members of the wealthy Sackler family, who own Purdue Pharma, have been trying to reach an…
Purdue Pharma Bankruptcy Mediator Says Sacklers, US States Closer to Deal Over Opioid Claims
A mediator reported on Tuesday that members of the Sackler family that own Purdue Pharma and U.S. states opposed to the OxyContin-maker’s bankruptcy exit plan are “even closer” to a settlement over claims that the company fueled a U.S. opioid epidemic. The mediator asked a bankruptcy judge to extend the deadline for negotiations to Feb….
Purdue Pharma Seeks to Appeal US Ruling That Overturned Its Opioid Settlement
Purdue Pharma is seeking to appeal to the 2nd U.S. Circuit Court of Appeals a judge’s decision to unravel its restructuring plan that would have insulated its owners from liability in civil opioid-related cases, according to a court filing late on Thursday. The appeal came after U.S. Bankruptcy Judge Robert Drain in White Plains, New…
Judge Rejects Purdue Pharma’s Sweeping $4.5 Billion Opioid Settlement
A federal judge rejected OxyContin maker Purdue Pharma’s bankruptcy settlement of thousands of lawsuits over the opioid epidemic Thursday because of a provision that would protect members of the Sackler family from facing litigation of their own. U.S. District Judge Colleen McMahon in New York found that federal bankruptcy law does not give the bankruptcy judge…
Appeals Are Mounting in Purdue Pharma Bankruptcy Settlement
Objections to a historic settlement with Purdue Pharma are mounting in the form of appeals, with Rhode Island’s attorney general saying Wednesday the plan doesn’t hold the OxyContin maker or its owners accountable for its role in sparking the opioid crisis. Rhode Island appealed Tuesday in U.S. Bankruptcy Court in New York. Separate appeals have…
Judge Conditionally Approves Purdue Pharma Opioid Settlement
A federal bankruptcy judge gave conditional approval Wednesday to a sweeping settlement that will remove the Sackler family from ownership of OxyContin maker Purdue Pharma and devote potentially $10 billion to fighting the opioid crisis that has killed a half-million Americans over the past two decades. If it withstands appeals, the deal will resolve a…
NTD Evening News Full Broadcast (Sept. 1)
President Joe Biden confirms that he’ll visit Louisiana at the end of the week following Hurricane Ida damage, the White House has a new plan to combat the rise in housing prices, and a judge says the Sackler family and Purdue Pharma are now shielded from all opioid lawsuits in the future.
Law Firms Representing Purdue Pharma to Pay US $1 Million: Justice Department
WASHINGTON—Law firms representing opioid maker Purdue Pharma in the company’s bankruptcy will relinquish $1 million in a settlement with the U.S. Department of Justice’s trustee program, the department said in a statement on Thursday. The settlement must still be approved the Bankruptcy Court for the Southern District of New York, the department said. Purdue, maker…
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