Category: Sackler family

Purdue Pharma Can Protect Sackler Owners in Opioid Bankruptcy, Court Rules

June 1, 2023
Business & MarketsCompaniesopioidPurdue PharmaSackler familyUSUS News
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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…

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Appeals Are Mounting in Purdue Pharma Bankruptcy Settlement

September 30, 2021
Business & EconomyCompaniesOxyContinPurdue PharmaSackler familyUSUS News
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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…

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