SCOTUS has blocked Purdue Pharma from going forward with bankruptcy proceedings, which the Biden administration has called an 'unprecedented' arrangement that would ultimately offer the Sackler family broad protection from opioid-related civil claims.
opioid-related civil claimsIn agreeing to pause the settlement, the court also said it would take up the case and hear arguments this December.of OxyContin manufacturer Purdue Pharma — stemming from litigation arising from claims over its role in fueling the opioid addiction crisis.
Until recently, Purdue was controlled by the Sackler family, who withdrew billions of dollars from the company before it filed for bankruptcy. The family has now agreed to contribute up to $6 billion to Purdue's reorganization fund on the condition that the Sacklers receive a release from civil liability.
The government, representing the U.S. Trustee, has called the plan "exceptional and unprecedented" in court papers, noting that lower courts have divided on when parties can be released from liability for actions that caused societal harm.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
US asks Supreme Court to delay Purdue Pharma bankruptcy settlementThe U.S. Department of Justice on Friday asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits.
Weiterlesen »
US Supreme Court to scrutinize Purdue Pharma bankruptcy settlementThe U.S. Supreme Court on Thursday agreed to hear a challenge by President Joe Biden's administration to the legality of OxyContin maker Purdue Pharma's bankruptcy settlement that would shield its wealthy Sackler family owners from lawsuits over their role in the country's opioid epidemic.
Weiterlesen »
Supreme Court blocks $6B Purdue Pharma dealThe case arose after the reorganization in bankruptcy of OxyContin manufacturer Purdue Pharma – stemming from litigation arising from claims over its role in fueling the opioid addiction crisis.
Weiterlesen »
Purdue Pharma can protect Sackler owners in opioid bankruptcy, court rulesBankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company's broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday.
Weiterlesen »
Appeals court paves way for Purdue Pharma opioids settlementA federal appeals court cleared the way for drug manufacturer Purdue Pharma to settle thousands of lawsuits regarding its role in fueling the opioid epidemic in the U.S., reinstating a bankruptcy settlement that controversially shields from future claims.
Weiterlesen »