More US states reach deal in OxyContin maker Purdue’s bankruptcy
Al Jazeera
If approved by the court, the bankruptcy plan would include legal releases shielding Purdue Pharma LP’s wealthy owners, the Sackler family, from future litigation.
Fifteen more United States states reached an agreement with Purdue Pharma LP and members of its wealthy Sackler family owners that moved the OxyContin maker a step closer to resolving widespread opioid litigation and exiting bankruptcy protection. All but a handful of states nationwide now support Purdue’s bankruptcy plan, with the latest agreement emerging after weeks of mediation. The deal, outlined in bankruptcy court papers filed late on Wednesday, was reached after Sackler family members agreed to contribute another $50m towards a proposed litigation settlement and to release tens of millions of additional internal documents for public inspection.
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