People who were addicted to OxyContin or lost loved ones who were addicted to the drug expect very little in compensation from the multibillion-dollar Purdue Pharma bankruptcy settlement.
The DOJ is seeking to block implementation of any part of the Purdue Pharma bankruptcy deal until legal challenges are settled. The deal granted Sackler family members immunity from opioid lawsuits.
The decision by a federal bankruptcy judge grants members of the family who own Purdue Pharma, maker of OxyContin, sweeping protection from any liability for the opioid crisis.
In the Purdue Pharma bankruptcy trial now underway, scrutiny has focused on the Sacklers' demand for immunity from opioid lawsuits that would extend to a vast network of individuals and businesses.
The Purdue Pharma bankruptcy process has focused on financial compensation to creditors, but court records include heartrending personal letters from families ravaged by Oxycontin.
Two divisions of the DOJ argue the deal improperly shelters members of the Sackler family and their associates from liability. States are finalizing a separate deal with other opioid companies.
Massachusetts and New York are among the states agreeing to end the fight to halt a controversial Purdue Pharma bankruptcy plan. The deal shelters members of the Sackler family from opioid lawsuits.
A federal bankruptcy judge cleared a plan for final vote by Purdue Pharma's creditors that would release members of the Sackler family and their financial empire from liability for the opioid crisis.
Under a bankruptcy procedure prohibited by courts in part of the country, the Sacklers could be sheltered from opioid lawsuits even without declaring bankruptcy. Some states are crying foul.
Two dozen states had hoped to sue the owners of Purdue Pharma for their alleged role in the opioid crisis. But a federal bankruptcy has judge put the brakes on — again — until April 21.
Attorneys, forensic analysts and other financial experts working for Purdue Pharma spent nearly two years looking for evidence of wrongdoing by the Sacklers. Critics want the findings made public.
Under a bankruptcy plan filed late Monday, the OxyContin maker would pay $500 million up front, promising billions in future payments. Twenty-four states rejected the proposal.
Members of the family have worked to keep their role in Purdue Pharma's operations private. In a surprise move, David and Kathe Sackler agreed to testify under oath.
The corporate consulting giant issued a rare apology for its behind-the-scenes work with Purdue Pharma, maker of OxyContin. One senator called McKinsey's behavior "abhorrent."
A new plea deal with the Justice Department is the second time the family-owned company admitted criminal schemes to boost Oxycontin sales. Despite their hands-on role, the Sacklers face no charges.
The controversial deal hashed out between the Department of Justice and the maker of Oxycontin provides hundreds of millions of dollars of relief for communities hit hard by the opioid epidemic.
Critics say the settlement doesn't hold company executives or members of the Sackler family accountable for their aggressive marketing of OxyContin, which helped fuel the nation's opioid epidemic.
According to a court filing Monday, the family pulled about $10.7 billion from Purdue since 2008 — ramping up withdrawals even after executives pleaded guilty to misleading regulators about OxyContin.
While most Republican attorneys general embrace Purdue Pharma's structured bankruptcy plan, all but two Democratic attorneys general reject it. "This is a moral issue for them," one expert says.
The bankruptcy follows the Sackler family, which owns Purdue, agreeing to surrender control of the company and offering $3 billion in cash to opioid-hit communities.
