In harsh words, the U.S. Department of Justice castigated Purdue Pharma’s proposed bankruptcy plan as being illegal and unconstitutional, raising questions about the fate of the proposal.
Under the proposed settlement, some members of the Sackler family who own the drug maker would contribute more than $4.3 billion to compensate people and local governments that were harmed by OxyContin, the painkiller that helped trigger the opioid crisis. In exchange, the family and a lengthy list of associates, who did not file for bankruptcy protection, would be immune from future lawsuits.
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