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The Supreme Court blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included ... had agreed to pay $6 billion that could be ...
But the Purdue Pharma settlement would have been only the second so far to include direct payments to victims from a $750 million pool. Payouts would have ranged from about $3,500 to $48,000.
Even though she does not expect a payout, she wants the settlement to be finalized in hopes it would help her stop thinking about Purdue Pharma and Sackler family members, whom she blames for the ...
Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [1] The case addressed the 2022-2023 Purdue Pharma bankruptcy settlement and whether, under Chapter 11 of the Bankruptcy Code, a release extinguishing claims held by nondebtors against nondebtor third parties, without the claimants’ consent could move forward.
But the Purdue Pharma settlement would be one of only two so far that include direct payments to victims from a $750 million pool. Payouts are expected to range from about $3,500 to $48,000.
This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources. The timeline of the opioid epidemic includes selected events related to the origins of Stamford, Connecticut-based Purdue Pharma, the Sackler family, the development and marketing of oxycodone, selected FDA activities related to the abuse ...
In August 2019, Purdue Pharma and the Sackler family were in negotiations to settle the claims for a payment of $10-$12 billion. [84] The settlement would include a Chapter 11 filing by Purdue Pharma, which would be restructured as public beneficiary trust and the Sackler Family would give up any ownership in the company. Addiction treatment ...
The plan also required the Sackler family, longtime owners of the company, to pay approximately $4.5 billion into the settlement funds (later negotiations increased this to $6 billion).