Civil Plaintiff
Purdue Pharma’s Multi-Billion Dollar Settlement Is Approved
A federal judge on Wednesday approved a controversial bankruptcy settlement for OxyContin manufacturer Purdue Pharma that would shield the members of the Sackler family who own the company from future opioid-related claims.
Judge Robert Drain signed off on the settlement plan during a six-hour bench ruling, setting the stage for the dissolution of the company. Its assets would be transferred to a new firm owned by a trust and run to combat the opioid crisis.
“I wish the plan had provided for more, but I will not jeopardize what the plan does provide,” Drain said.
