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Search resuls for: "Raymond Sackler"


2 mentions found


☆ US Supreme Court to scrutinize controversial opioid crisis settlement that would give Sackler family immunity
  + stars: | 2023-12-04 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +7 min
Barring individual victims from pursuing their own lawsuits against the Sackler family “raises serious constitutional questions,” the department argued. OxyContin’s commercial success helped the Sackler family earn billions of dollars and the family became known for philanthropy around the world. As the country’s opioid crisis worsened, attention shifted to the role played by Purdue Pharma and the Sackler family. Many of the suits allege that the Sackler family knew of OxyContin’s addictive properties but, nevertheless, continued to promote the drug. The Supreme Court hearing comes at a time of devastating losses due to drug overdoses in the US.
Persons: Los Angeles CNN —, Sackler, Mortimer, Raymond Sackler, “, George Frey, Elizabeth Prelogar, ” Anthony Casey, ­, ­ –, Purdue Frederick, ” Lindsey Simon, ” Organizations: Los Angeles CNN, Purdue, New, US, US Justice Department, Purdue Pharma, Supreme, Knoa Pharma, Purdue Pharma L.P, Bloomberg, Sackler, ”, University of Chicago, school’s, Law, Finance, Guggenheim, Centers for Disease Control, “, Emory University Locations: New York, Purdue, Provo , Utah, U.S, United States, Paris
☆ Purdue Pharma can protect Sackler owners in opioid bankruptcy
  + stars: | 2023-05-30 | by ( Dietrich Knauth | Industry Insight | How Law Firms Calculate Greenhouse Gas Emissions | ) www.reuters.com   time to read: +4 min
CompaniesCompanies Law Firms Purdue Pharma LP FollowNEW YORK, May 30 (Reuters) - Bankrupt OxyContin maker Purdue Pharma can shield its owners, members of the wealthy Sackler family, from opioid lawsuits in exchange for a $6 billion contribution to the company's broader bankruptcy settlement, a U.S. appeals court ruled on Tuesday. Circuit Court of Appeals said that U.S. bankruptcy law allows legal protections for non-bankrupt parties, like the Sacklers, in extraordinary circumstances. Purdue has pleaded guilty to charges related to its opioid marketing, while its owners have expressed regret but denied wrongdoing. The Sackler contribution accounts for most of the cash payment in a broader bankruptcy settlement that Purdue values at more than $10 billion. Similar lawsuits related to the U.S. opioid crisis have resulted in more than $50 billion in settlements with opioid manufacturers, drug distributors and pharmacy chains.
Persons: Sackler, Eunice Lee, Richard Wesley, Wesley, OxyContin, Mortimer Sackler, Raymond Sackler, Dietrich Knauth, Bill Berkrot, Alexia Garamfalvi Organizations: Law, Purdue, Purdue Pharma, The, Circuit, Appeals, U.S, Supreme, U.S . Centers for Disease Control, Thomson Locations: U.S, The New York
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