The Supreme Court rejects a nationwide opioid settlement with OxyContin maker Purdue Pharma

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 70 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 66%
  • Publisher: 63%

Purdue Pharma News

Supreme Court,Sackler Family,Brett Kavanaugh

WASHINGTON (AP) — The Supreme Court on Thursday rejected a nationwide settlement with OxyContin maker Purdue Pharma that would have shielded members of the...

that would have shielded members of the Sackler family who own the company from civil lawsuits over the toll of opioids but also would have provided billions of dollars to combatblocked an agreement hammered out with state and local governments and victims. The Sacklers would have contributed up to $6 billion and given up ownership of the company but retained billions more.

“This is a step toward justice. It was outrageous what they were trying to get away with,” he said Thursday. “They have made a mockery of the justice system and then they tried to make a mockery of the bankruptcy system.” Arguments in early December lasted nearly two hours in a packed courtroom as the justices seemed, by turns, unwilling to disrupt a carefully negotiated settlement and reluctant to reward the Sacklers.

The Biden administration had argued to the court that negotiations could resume, and perhaps lead to a better deal, if the court were to stop the current agreement. The drug and the Stamford, Connecticut-based company became synonymous with the crisis, even though the majority of pills being prescribed and used were generic drugs. Opioid-related overdose deaths have continued to climb, hitting 80,000 in recent years. Most of those are from fentanyl and other synthetic drugs.

Sackler family members no longer are on the company’s board, and they have not received payouts from it since before Purdue Pharma entered bankruptcy. In the decade before that, though, they were paid more than $10 billion, about half of which family members said went to pay taxes.When David Ben learned he would be appointed to the Order of Canada, his mind immediately went to the great magicians who received the honour before him.Inflation in the U.S.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in ERROR

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Supreme Court blocks bankruptcy settlement with OxyContin maker Purdue PharmaThe settlement would have shielded Purdue’s wealthy Sackler family owners from lawsuits over their role in the nation’s deadly opioid epidemic
Source: globebusiness - 🏆 31. / 66 Read more »

Quebec court alarmed public by improperly using term 'secret trial,' Supreme Court rulesThe Supreme Court of Canada is seen in a file photo from June 2023.
Source: CBC - 🏆 32. / 63 Read more »

Sydney River man elects trial in Supreme Court; Cape Breton court report for May 29, 2024Explore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Sydney River man elects trial in Supreme Court; Cape Breton court report for May 29, 2024Explore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

The Supreme Court strips the SEC of a critical enforcement tool in fraud casesWASHINGTON (AP) — The Supreme Court on Thursday stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Supreme Court Limits Ability Of Federal Agencies To Issue FinesPaul Blumenthal is a senior reporter with the HuffPost Politics team based in Washington, D.C. He covers courts, elections, political economy and political history.
Source: HuffPostCanada - 🏆 61. / 53 Read more »