US EditionPurdue Pharma to Be Sentenced, Paving Way for Opioid Settlement
The delay gives victims a chance to speak in person before a settlement that could dissolve Purdue and pay individual claimants up to $16,000.
- On Tuesday, U.S. District Judge Madeline Cox Arleo holds the sentencing hearing for Purdue Pharma in Newark, New Jersey, finalizing a plea deal to dissolve the company and fund a $7.4 billion settlement.
- Purdue admitted to deceiving federal regulators and paying kickbacks to doctors to boost OxyContin sales, with the bankruptcy resolution concluding more than six years of litigation.
- After delaying the hearing last week to allow in-person participation, Arleo permitted victims to share impact statements, though some argue the settlement shields the Sackler family from sufficient accountability.
- Sackler family members will contribute up to $7 billion over 15 years to combat the opioid crisis, while Purdue will cease operations and be replaced by nonprofit Knoa Pharma.
- If the criminal sentence is issued Tuesday, the settlement could take effect as soon as Friday, with individual victim payments expected to range from about $8,000 to about $16,000.
25 Articles
25 Articles
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OxyContin maker Purdue Pharma could be dissolved and replaced by a company focused on the public good by the end of the week, as a massive legal settlement resolving thousands of lawsuits is set to take effect. A federal judge on Tuesday is expected to deliver a criminal sentence to the company to resolve a U.S. Department of Justice probe — a last necessary step to clear the way for the settlement. But some people who have been addicted to opio…
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OxyContin maker Purdue Pharma’s criminal sentence could be the last step before company dissolves
OxyContin maker Purdue Pharma could be dissolved and replaced by a company focused on the public good by the end of the week, as a massive legal settlement resolving thousands of lawsuits is set to take effect. Read more...
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