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Members of the family who own OxyContin maker Purdue Pharma, and the company itself, agreed to pay up to $7.4 billion in a new settlement to lawsuits over the toll of the powerful prescription ...
The Sacklers and Purdue Pharma boosted their settlement contribution to $7.4 billion after the U.S. Supreme Court overturned a prior settlement in June 2024. If approved, the new plan would end ...
Purdue Pharma and the members of the Sackler family who own the company agreed in principle to pay a $7.4 billion settlement to resolve thousands of lawsuits over their alleged role in the opioid ...
Massachusetts v. Purdue is a lawsuit filed on August 14, 2018, suing the Stamford, Connecticut-based company Purdue Pharma LP, which created and manufactures OxyContin, "one of the most widely used and prescribed opioid drugs on the market", and Purdue's owners, the Sacklers [1] accusing them of "widespread fraud and deception in the marketing of opioids, and contributing to the opioid crisis ...
Purdue argued—and the bankruptcy court and 2nd Circuit agreed—that three key sections of the bankruptcy code, taken together, authorize a bankruptcy court to grant such releases: sections 105 ...
On Dec. 4, 2023, the Supreme Court will hear arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from ...
In August 2019, Purdue Pharma and the Sackler family were in negotiations to settle the claims for a payment of $10-$12 billion. [84] The settlement would include a Chapter 11 filing by Purdue Pharma, which would be restructured as public beneficiary trust and the Sackler Family would give up any ownership in the company. Addiction treatment ...
For example, Purdue Pharmaceuticals entered an agreement with the United States, pleading guilty to felony misbranding of OxyContin with intent to defraud and mislead under sections 33 1(a) and 333(a)(2) of the FD&C Act and agreed to pay more than $600 million, but only $160 million was allocated to resolve civil claims under the False Claims ...