CNN —Members of the billionaire Sackler family will be protected from current and future lawsuits over their role in their Purdue Pharma’s opioid business, a New York court of appeals ruled Tuesday.
The ruling clears the way for a bankruptcy deal for Purdue Pharma, which is owned by the family.
In exchange for immunity, the Sacklers will personally pay out billions of dollars to help fight the ongoing opioid epidemic.
Purdue Pharma declared bankruptcy in 2019.
While the court’s decision compels the Sackler family to pay up to $6 billion to states, individual claimants and opioid crisis prevention, the ruling acknowledged that “total satisfaction” rarely occurs in complicated bankruptcy cases.
Persons:
Sackler, ”, Rob Bonta, “, Purdue Pharma’s, ” Bonta, CNN’s Lauren del Valle
Organizations:
CNN, Purdue, Purdue Pharma, District of Columbia, ” Purdue Pharma, Centers for Disease Control
Locations:
New York, United States, California