Kingpins of opioid crisis tipped to settle lawsuits worth billions
Maker of OxyContin aims to declare bankruptcy once it has a settlement, insiders say, but some US states are resisting
New York — OxyContin maker Purdue Pharma reached a tentative agreement with some plaintiffs to resolve litigation over its alleged role in fuelling the US opioid crisis and plans to tussle with states opposing the settlement offer in bankruptcy proceedings as soon as next week, people familiar with the matter said.
On Wednesday, lead lawyers representing more than 2,000 cities, counties and other plaintiffs suing Purdue, along with 23 states and three US territories, were on board with an offer from the company and its controlling Sackler family to settle lawsuits in a deal valued at up to $12bn, the people said...
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