WASHINGTON — The Supreme Court on Thursday blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included legal protections for the Sackler family, meaning that billions of dollars secured for victims is now threatened. The court on a 5-4 vote ruled that the bankruptcy court did not have the authority to release the Sackler family members from legal claims made by opioid victims.
The company’s tactics in aggressively marketing the drug came under increasing scrutiny as thousands of people died from opioid overdoses.. As the company’s fortunes nose-dived, it sought bankruptcy protection, but the Sackler family members did not. Instead, they negotiated a separate deal with Purdue and plaintiffs in pending lawsuits that would allow the company to reinvent itself to address the opioid crisis. The New York-based 2nd U.S.
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