Under a bankruptcy procedure prohibited by courts in part of the country, the Sacklers could be sheltered from opioid lawsuits even without declaring bankruptcy. Some states are crying foul.
Originally published on May 3, 2021 9:20 am
For months, members of the Sackler family that owns Purdue Pharma, the maker of Oxycontin, have portrayed their bid for immunity from future opioid lawsuits as a kind of
fait accompli, a take-it-or-leave-it fix to a legal morass.
In exchange for what amounts to a legal firewall for the Sacklers and their remaining empire, members of the family have offered to forfeit control of their bankrupt drug company and pay $4.2 billion from their private fortunes.
Judge Robert Drain, who is presiding over the case in White Plains, N.Y., has suggested that such a deal may be desirable and achievable along these broad lines.
fait accompli, a take-it-or-leave it fix to a legal morass.
In exchange for what amounts to a legal firewall for the Sacklers and their remaining empire, members of the family have offered to forfeit control of their bankrupt drug company and pay $4.2 billion from their private fortunes.
Judge Robert Drain who is presiding over the case in White Plains, N.Y., has suggested such a deal may be desirable and achievable along these broad lines.
A negotiated settlement could pre-empt years of costly litigation - the Sacklers deny any wrongdoing - and might accelerate financial aid to communities struggling to recover from an opioid epidemic that has already cost more than 450,000 lives.
24 States Mount Legal Fight To Block Sackler Bid For Opioid Immunity ktep.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ktep.org Daily Mail and Mail on Sunday newspapers.