Bankruptcy Judge Conditionally Allows Plan to Resolve Claims in Opioid Lawsuits

    A federal judge has ruled that OxyContin maker Purdue Pharma will be dissolved under a settlement deal that resolves all civil litigation against the family that owns the company, CNN reports.

    Under the deal, members of the Sackler family will pay out more than $4 billion to address the nation’s opioid crisis. The settlement awards the family broad legal protection against future civil litigation, the article notes. Purdue Pharma’s operating assets will be transferred to a newly formed public benefit company that will not include any Sackler family members among the stakeholders.

    Judge Robert Drain said he wished claimants were getting more money.

    Under the settlement, states attorneys general and the Justice Department could still pursue criminal actions against the Sackler family and other named parties.

    By Partnership Staff
    September 2021

    Published

    September 2021