Ruling on opioid crisis pushes Purdue Pharma to declare bankruptcy
The US Chapter 11 filing is designed to short-circuit more than 2,000 lawsuits against Purdue and its owners, the billionaire Sackler family
16 September 2019 - 17:36
Wilmington — Purdue Pharma filed for bankruptcy with a more than $10bn plan to settle claims that it fuelled the US opioid epidemic by illegally pushing sales of its addictive OxyContin painkiller.
The Chapter 11 filing on Sunday in New York is designed to short-circuit more than 2,000 lawsuits against Purdue and its owners, the billionaire Sackler family. The settlement calls for the Sacklers to hand over Purdue to a trust controlled by the states, cities and counties that have sued to recoup billions of dollars they spent battling opioid addictions and overdoses...
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