September 21, 2021 09:36

24 States Oppose Sacklers’ Bid to use Bankruptcy as Shield Against Opioid Suits

Attorneys general of 24 states, members of Congress, municipalities and victims families have objected to a proposal from the Sackler family to forfeit ownership of Purdue Pharma, manufacturer of the powerful prescription painkiller OxyContin, and surrender part of their immense fortune in return for immunity from further litigation over their part in a drug epidemic that has claimed more than 500,000 lives, reports The Guardian.

A federal judge in New York will decide after a hearing on Wednesday whether the Sacklers have made the necessary financial disclosures for it to advance to the final stage. Under the proposals, the two branches of the Sackler family that own Purdue Pharma would settle more than 3,000 lawsuits against the company by paying $4.3bn. But the Sacklers would keep about $7bn which would be personally protected from legal action over the part played by some family members in the illegal drive to mass market OxyContin.

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