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☆ The $7 billion Purdue bankruptcy plan giving the Sacklers immunity from more lawsuits gets nixed by Supreme Court
  + stars: | 2024-06-27 | by ( Jack Newsham | ) www.businessinsider.com   time to read: +3 min
Read previewThe US Supreme Court has struck down a $7 billion bankruptcy plan for Purdue Pharma that would have protected the Sackler family from further lawsuits — a ruling that could mean "chaos" for other big legal liability cases. The Sackler family, which ran Purdue, agreed to provide up to $6 billion in funding in exchange for immunity from further legal action. Anne Andrews, a leading bankruptcy lawyer for victims, predicted tumult if the Supreme Court struck down the Purdue plan in an interview with Business Insider ahead of the decision. Related stories"The U.S. Supreme Court got it right — billionaire wrongdoers should not be allowed to shield blood money in bankruptcy court," he said. Its plan, which would provide $2.5 billion, is currently on appeal in the Third Circuit Court of Appeals.
Persons: —, Sackler, Anne Andrews, William Tong, wrongdoers, Johnson, Leigh O'Dell, Beasley Allen, J's Organizations: Service, Purdue Pharma, Purdue, Business, Sackler, U.S, Supreme, Justice Department, J, Boy Scouts of Locations: Boy Scouts of America
☆ Exclusive: Johnson & Johnson considers refiling talc-liability bankruptcy after appeals-court defeat
  + stars: | 2023-04-04 | by ( Mike Spector | Thomson Reuters | Mike Spector Is A Correspondent At Reuters Covering Corporate Crises That Span Bankruptcy | ) www.reuters.com   time to read: +8 min
[1/2] A bottle of Johnson and Johnson Baby Powder is seen in a photo illustration taken in New York, February 24, 2016. In a court filing Tuesday, lawyers representing a creditors committee of talc plaintiffs said they recently became aware of discussions about a second J&J subsidiary bankruptcy. The J&J subsidiary that was to absorb liability for the talc cases, LTL Management, declared bankruptcy almost immediately after it was created. Andy Birchfield, a plaintiffs' lawyer at law firm Beasley Allen, said on Tuesday that claims “could easily be resolved if Johnson & Johnson would stop playing games and abusing the bankruptcy court process." How the J&J subsidiary might square such a move with the appeals court ruling remained unclear.
☆ Mother takes Pornhub parent company to court over 'traumatizing' rape videos of her teenage son uploaded to the site
  + stars: | 2022-12-03 | by ( Bethany Dawson | ) www.businessinsider.com   time to read: +5 min
A mother is taking MindGeek, who owns Pornhub, to court after a man was convicted of raping her son, filming the content, and uploading it to the site. Her lawyer told Insider that the videos uploaded to the site were "clearly" of a minor. In a statement to Insider, MindGeek said, "MindGeek is aware that a lawsuit has been filed in federal court in Alabama. As well as owning Pornhub, MindGeek owns a number of other adult entertainment sites, including xHamster, RedTube, and YouPorn. In December 2020, an allegation that Pornhub hosts videos depicting child pornography sparked both Visa and Mastercard to launch investigations into the site and drop ties with the company.
☆ Law firms that make billions fighting injuries and frauds are very hush-hush about what they pay. Here are the starting salaries at 19 firms from Altshuler to Wigdor.
  + stars: | 2022-11-08 | by ( Jack Newsham | ) www.businessinsider.com   time to read: +8 min
Many plaintiffs' firms pay somewhere in between. Despite more law firms increasingly paying their top earners like professional athletes, many law school grads only make between $50,000 and $80,000 a year. Things do appear to be changing as more plaintiffs firms seek to compete with Big Law firm talent. But firms like Edelson that pay as much as Big Law firms are the exception. For more information on how these law firms pay, see our table below:Do you have more information on how plaintiffs' firms pay their lawyers?
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