More than a year after OxyContin maker Purdue Pharma reached a tentative settlement over the toll of opioids that was accepted nearly universally by the groups suing the company - including thousands of people injured by the drug - money is still not...
Parties waiting to finalize the deal are waiting for a court to rule on the legality of a key detail: whether members of the Sackler family who own the company can be protected from lawsuits over OxyContin in exchange for handing over up to $6 billion in cash over time plus the company itself.
While it’s not unusual for an appeals panel to take a year or more from a hearing until it releases a decision, this case was originally fast-tracked by the court. At the hearing last year, there were signs that the three-judge panel might not rule unanimously. With the case stretching out, the legal costs continue to mount, too. Purdue reported in a court filing that as of March 31, it had spent about $900 million on nonrecurring legal fees since it filed for bankruptcy in 2019 as part of an effort to settle its lawsuits.
One of them, Lindsey Arrington, does not know how much she’ll qualify to be paid. The Everett, Washington, woman whose substance abuse disorder began with OxyContin she used as a teenager, said money would be helpful. And some money could help her relationship with him. “I owe it to him to use some of the money to do something for him or with him as a symbolic gesture of the time that we lost, that we could have had together had it not been what I was going through,” she said.
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Frustration grows over wait on OxyContin maker's settlementMore than a year after the maker of OxyContin reached a tentative settlement over the toll of opioids, the money isn't flowing yet. That's because a federal court is still considering whether it's lawful to give members of the Sackler family who own Purdue Pharma protection from civil lawsuits in exchange for their contribution to the settlement: the company itself and up to $6 billion in cash. A federal appeals court heard arguments on the matter a year ago, but has not issued a ruling. Lawyers on multiple sides of the case have asked the court to issue an opinion — or at least a timeline.
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