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Judge Approves Purdue Pharma Settlement with Sackler Family Over Opioid Lawsuits
The settlement requires Sackler family to pay $7 billion, relinquish ownership, and fund individual victims and governments over 15 years to address the opioid crisis.
- On Friday, U.S. Bankruptcy Judge Sean Lane said he will approve Purdue Pharma’s latest settlement requiring members of the Sackler family to contribute up to $7 billion and relinquish ownership.
- About a decade ago, lawsuits against Purdue Pharma began, seeking accountability for an opioid crisis linked to about 900,000 U.S. deaths since 1999, and grew into a lengthy legal battle.
- For individuals, about $850 million is set aside, including more than $100 million for children born with opioid withdrawal, and people have until the March 1 deadline to apply and waive lawsuits against the Sackler family.
- Most settlement funds will be directed to state and local governments, which may receive full allocations over up to 15 years, while individual victims’ payments are slated for next year and no tracking mechanism exists.
- The settlement positions the deal among the largest opioid resolutions, involving about $50 billion in settlements, renaming Purdue Pharma to Knoa Pharma under new overseers with non‑financial restrictions and company documents to be made public.
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Judge says he’ll approve opioid settlement with OxyContin maker Purdue and Sackler family
A federal bankruptcy court judge on Friday said he will approve OxyContin-maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of opioids that includes some money for thousands of victims of the epidemic.
·Canada
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Associated Press News+33 Reposted by 33 other sources
Judge says he'll approve opioid settlement with OxyContin maker Purdue and Sackler family
A federal bankruptcy court judge on Friday said he will approve OxyContin-maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of opioids that includes some money for thousands of victims of the epidemic.
·United States
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Total News Sources43
Leaning Left11Leaning Right1Center29Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 27%
C 71%
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