The Sackler family owners of Purdue Pharma LP have proposed a new and larger settlement worth up to $6 billion to resolve allegations that the OxyContin maker and its owners contributed to the deadly U.S. opioid epidemic, a mediator’s report showed on Friday. The mediator, U.S. Bankruptcy Judge Shelley Chapman, has been overseeing talks between…
Purdue’s Sackler Owners Propose up to $6 Billion Opioid Settlement
Publicis Loses Bid to Escape Massachusetts Opioid Marketing Lawsuit
October 31, 2021
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BOSTON—A unit of French advertising company Publicis Groupe SA on Friday lost a bid to dismiss a lawsuit by Massachusetts’ attorney general claiming it helped OxyContin maker Purdue Pharma LP fuel the U.S. opioid epidemic. Publicis Health had called Attorney General Maura Healey’s lawsuit an unprecedented attempt to sue an advertising agency over a manufacturer’s…
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…
Bankruptcy Judge Approves Purdue Pharma’s $7 Million Executive Bonus Plan
A bankruptcy judge on Monday approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a hearing at which he faced blunt criticism for his handling of the case from a woman whose son died of an opioid overdose. Bankruptcy Judge Robert Drain in White Plains,…
Nevada Announces $45 Million Settlement With McKinsey Over Opioids
LAS VEGAS—Nevada has struck a $45 million settlement deal with McKinsey & Company for the global consulting firm’s role in advising opioid makers how to sell more prescription painkillers amid a national overdose crisis. The western state reached the deal after sitting out a multi-state settlement with McKinsey announced in February. The hard bargaining has…
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