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Purdue Pharma L.P., the U.S. Supreme Court overturned the settlement in a 5–4 decision. [76] On January 23, 2025, the Sackler family and Purdue settled the lawsuit they faced, in a $7.4bn deal with states and individuals. The Family agreed to pay $6.5bn over 15 years, while Purdue agreed on $900mn in settlements. [77]
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.
The Supreme Court on Thursday rejected a nationwide settlement with OxyContin maker Purdue Pharma that would have shielded members of the Sackler family who own the company from civil lawsuits ...
The Supreme Court blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included legal protections for the Sackler family ...
The debtor is the central character in any bankruptcy case and in Purdue’s case are the 24 corporate entities that originally filed for bankruptcy. While some members of the Sackler family were ...
The Supreme Court is taking up a potentially landmark case Monday involving Purdue Pharma and the Sackler family. Oral arguments will be heard on Monday in a rare bankruptcy case for the court.
The US Supreme Court heard arguments Monday in a case that could decide if the billionaire Sackler family that controlled OxyContin maker Purdue Pharma can use bankruptcy to shield their personal ...
As the nation continues to grapple with the opioid epidemic, the Sackler family had agreed to pay $6 billion to families and states as part of an agreement to wind down Purdue Pharma, the maker of ...