Supreme Court's Decision on OxyContin Maker's Bankruptcy Deal Holds Billions at Stake

The Supreme Court is hearing arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield the Sackler family, who own the company, from civil lawsuits related to the toll of opioids. The agreement, which would provide billions of dollars to combat the opioid epidemic, has been put on hold due to objections from the Biden administration. The issue at hand is whether bankruptcy protection can be extended to individuals like the Sacklers who have not declared bankruptcy themselves. Lower courts have issued conflicting decisions on this matter, which has implications for other major product liability lawsuits settled through bankruptcy. The decision is expected by early summer.