Sacklers Threaten to Pull Out of Opioid Settlement Without Broad Legal Immunity
The New York Times
In a rare court appearance, David Sackler said he and his family would withdraw their pledge to pay $4.5 billion, unless they are shielded from lawsuits related to Purdue Pharma.
A scion of the Sackler family, the billionaire owners of Purdue Pharma, vowed in court on Tuesday that the family would walk away from a $4.5 billion pledge to help communities nationwide that have been devastated by the opioid epidemic, unless a judge grants it immunity from all current and future civil claims associated with the company. Absent that broad release from liability, said David Sackler, 41, a former board member and grandson of one of the founders, the family would no longer support the deal that the parties have painstakingly negotiated over two years to settle thousands of opioids lawsuits brought by states, cities, tribes and other plaintiffs. “We need a release that is sufficient to get our goals accomplished, and if the release fails to do that, then we will not support it,” Mr. Sackler declared during the fourth day of fractious testimony in the confirmation hearing for the bankruptcy plan of Purdue Pharma, whose misleading marketing of the prescription painkiller OxyContin is widely seen as igniting the opioid epidemic.
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