After bankruptcy filing, Purdue Pharma may not be off hook
OxyContin maker Purdue Pharma and its owners expressed sympathy but not responsibility for the nation’s opioid crisis as the company filed for bankruptcy protection late Sunday night, part of a move to settle some 2,600 lawsuits — most from state and local governments.,” said members of the Sackler family, owners of Purdue Pharma, in the statement, which called the settlement plan a “historic step towards providing critical resources that address a tragic public health situation.
It will be up to Robert Drain, federal bankruptcy judge in White Plains, N.Y., to sort out what happens now — including whether those state lawsuits against Sackler family members can continue. Even if he stops them, he could consider the claims they raise in his court. The Sackler family was listed by Forbes magazine in 2016 as one of the 20 wealthiest in the U.S. In a court filing last week, the New York attorney general’s office contended that the family had transferred $1 billion to itself through a Swiss bank account and other hidden bank accounts.
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