Sackler Family Granted Legal Immunity in Opioid Lawsuits
The Sackler family, owners of Purdue Pharma, have been granted legal immunity from all civil opioid claims related to their company in exchange for payments of up to $6 billion to plaintiffs in now-suspended lawsuits. The ruling was part of a court review of a bankruptcy restructuring plan for Purdue. The company will cease to exist, and its assets will be transferred to a newly created company, Knoa, which will manufacture opioid addiction treatment and opioid reversal medicines at no profit while continuing to make existing drugs like OxyContin. The ruling has implications for the Purdue case specifically and for owners of companies seeking bankruptcy generally.
- An Appeals Court Gave the Sacklers Legal Immunity. Here's What the Ruling Means. The New York Times
- Purdue Pharma family protected from lawsuits in exchange for addiction treatment funding PBS NewsHour
- Court ruling clears way for Purdue Pharma to settle opioid claims #shorts CBS Mornings
- Purdue Pharma's Bankruptcy Works Now Bloomberg
- Sackler family wins immunity from opioid lawsuits BBC
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