Purdue Pharma asked a bankruptcy judge late Tuesday to consider the latest version of its plan to settle thousands of lawsuits over the toll of the powerful prescription painkiller OxyContin, a deal that would have members of the Sackler family who own the company pay up to $7 billion. The filing is a milestone in […]
Purdue Pharma submitted a revised opioid lawsuit settlement plan involving up to $7 billion from the Sackler family, who would relinquish company ownership. The settlement aims to resolve thousands of lawsuits related to OxyContin's impact and establish a new entity run by state-appointed officials to combat the opioid crisis. The plan requires plaintiffs to opt-in for full settlement shares and includes provisions for potential lawsuits against the Sacklers. The settlement also involves releasing millions of company documents and provides direct money to victims.
