Purdue Pharma secures litigation ceasefire after US Supreme Court ruling

NEW YORK -Purdue Pharma on Tuesday received U.S. court approval for a 60-day freeze on lawsuits against its owners, members of the wealthy Sackler family, in its first court appearance since a landmark Supreme Court ruling upended its bankruptcy settlement.

The ruling sent Purdue back to the drawing board after nearly five years in bankruptcy and imperils billions of dollars in funding that the company and the Sacklers had promised to pay toward addressing the harms from the crisis. Purdue's attorney, Marshall Huebner, said the company will engage in"a high-speed, high-stakes mediation" with the Sacklers, state and local governments, and other stakeholders. Protecting the Sacklers during a"modest" 60-day negotiating period will give Purdue a real chance to negotiate a new bankruptcy settlement and put money toward stopping opioid overdoses and treating addiction, Huebner said.

If mediation fails, Purdue has said a court-appointed committee representing its creditors should be allowed to sue the Sacklers over claims that they drained over $11 billion from the company and that their conduct made Purdue liable for other lawsuits.

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