Ruling clears way for Purdue Pharma to settle opioid claims, protect Sacklers from lawsuits Sackler family members have been clear: If they don’t get the legal protections, they won’t do their part of the deal
that found bankruptcy court judges did not have the authority to shield from civil lawsuits members of the Sackler family who own Purdue and who have not filed for bankruptcy protection themselves.
Under the plan, members of the Sackler family would give up ownership of Stamford, Connecticut-based Purdue, which would become a new company known as Knoa, with its profits being used to fight the opioid crisis. They would also contribute $5.5 billion to $6 billion in cash over time. A chunk of that money — at least $750 million — is to go to individual victims of Sackler family members have been clear: If they don’t get the legal protections, they won’t do their part of the deal.
The settlement must still be approved by a bankruptcy court judge before it can be finalized. There’s also a chance the new ruling could be put on hold, pending an appeal to the U.S. Supreme Court.
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