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☆ The admitted and investigated drug use in some of Trump’s top picks
▼ + stars: | 2024-11-18 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —President-elect Donald Trump’s Cabinet picks are unique for many reasons. Kennedy brings his addiction worldview to prescription drugs such as those overseen by the Food and Drug Administration, which he would oversee if confirmed as HHS secretary. But Musk denied allegations of past drug use as reported in The Wall Street Journal early this year. Federal employees are barred from taking illegal drugs, and there are no reports to indicate that any of Trump’s Cabinet or other administration picks are using illegal drugs. CNN has reported that this year, Trump’s team is bypassing long and cumbersome FBI background checks for some of his Cabinet picks.

Persons: Donald Trump’s, Matt Gaetz, It’s, –, Gaetz, Robert F, Kennedy Jr, Kennedy, Kurt Andersen, ” Elon Musk, Matthew Perry, Joe Rogan’s, Musk, Larry Kudlow, Hunter, Hunter Biden, Trump, Fred, Theo Von’s “, ” Von, Von, Sackler, Xi Jinping, Biden, Joe Biden, Florida’s Organizations: CNN —, Drug Enforcement, Department of Health, Human Services, Harvard University, Food and Drug Administration, Fox News, “ Department, Government, NASA, SpaceX, Street, Trump, CNN, Biden White, of Justice, Supreme, Purdue Pharma, Republican Locations: Florida, South Dakota, China, Mexico

☆ New lawsuits against TikTok mirror those against Big Tobacco and Purdue Pharma
▼ + stars: | 2024-10-14 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Attorneys general in 14 different states filed lawsuits against TikTok last week. The suits mirror earlier ones against Big Tobacco and Purdue Pharma, legal experts told BI. The Sackler family, owners of Purdue Pharma, ultimately paid over $3 billion in settlements for misleading advertising related to their products. Purdue Pharma later filed for bankruptcy, but the Supreme Court struck down a $7 billion bankruptcy plan in June that would have given the Sackler's immunity from future civil suits. With the prospect of that federal ban looming next year, a slew of federal lawsuits helps shape public opinion and "pressure lawmakers to act," Rahmani said.

Persons: —, Adam Wandt, John Jay, Wandt, It's, wouldn't, Rahmani, Sackler, TikTok Organizations: TikTok, Big Tobacco, Purdue Pharma, Service, John, John Jay School of Criminal, Big Tech, Meta, Google, NPR Locations: California, United States

☆ Postage is going up again. You should care, even if you don’t send mail
▼ + stars: | 2024-07-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

Most people don’t use mail the way they used to – if they send out mail at all. And, most of all, businesses still depend on the mail to help them reach customers and keep the economy going. A history older than AmericaThe postal service and the United States have grown side by side since before the country’s birth – quite literally. The band The Postal Service was an indie-pop darling near the turn of the century. While stamp prices have doubled in that time, most experts point the finger at technology instead.

Persons: ”, Michael Plunkett, Benjamin Franklin, Alexis de Tocqueville, “ Alexander M, –, Santa Claus, Cliff, Newman, “, David Brin, Kevin Costner, ” Plunkett, Kevin Kosar, that’s, Plunkett, Sackler, ” ‘, doesn’t, Louis DeJoy, Kyle Grillot, Michael Kubayanda, Mark Dimondstein, ” Kubayanda Organizations: New, New York CNN, US Postal Service, Association for Postal Commerce, Boston Post, United States, Smithsonian Magazine, Getty, New York City, Postal Service, Post, ” Workers, Service, American Enterprise Institute, “, ”, Coalition, Century Postal Service, USPS, American Postal Workers Union Locations: New York, United States, Boston, United, Britain, France, Siren , Wisconsin, City, Los Angeles, AFP

☆ States and Creditors for Purdue Pharma Threaten Sacklers With Gush of Lawsuits
▼ + stars: | 2024-07-09 | by ( Jan Hoffman | ) www.nytimes.com time to read: +1 min

Purdue itself is supporting a proposal by a group of its creditors to sue individual Sacklers for transferring billions of dollars out of the company and into family trusts and overseas holding companies. The motions, some filed and others in the planning stage, are part of intense maneuvering to pressure the Sacklers to settle thousands of opioid lawsuits brought years ago against them and their company. If one isn’t struck by Sept. 9, thousands of lawsuits against the company and family members, which have been on hold for nearly five years, are likely to proceed. The Supreme Court’s ruling, on June 27, effectively dissolved an agreement negotiated between the Sacklers and Purdue, the manufacturer of the prescription opioid OxyContin, and states, local and tribal governments as well as individuals and other groups. Under that plan, the Sackers had agreed to contribute $6 billion — but only on the condition that they be granted protection from all civil lawsuits involving opioid claims.

Persons: Sackler Organizations: Purdue

☆ Gen Zers and millennials are willing to go on summer vacation at all costs. Literally.
▼ + stars: | 2024-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how young people are booking their summer vacations , finances be damned. AdvertisementSurveys from Credit Karma, Bankrate, and Bank of America show Gen Zers and millennials are willing to go on summer vacation at all costs… literally. Almost half of millennials surveyed (47%) were willing to take on debt to fund their travel plans, with Gen Z not far behind (42%). AdvertisementAlmost a quarter of young people surveyed by Credit Karma expected to rack up $2,000 in debt this summer. And about 10% of that group were willing to push it even further, surpassing $4,000 in summer debt.

Persons: —, Joe Biden's, Donald Trump, Rebecca Zisser, John Towfighi, Zers, millennials, Gen, it's, you'll, Credit Karma, Klaus Vedfelt, That's, Rob Chisholm, Alyssa Powell, he's, Joseph Stiglitz, Trump, Stiglitz, Justin Sullivan, Chelsea Jia Feng, ChatGPT, Mark Zuckerberg, Sundar Pichai, — livestreaming, Twitch's Dan Clancy, Tyler Le, Gigi, Sackler, Ebrahim Raisi, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Biden, Business, Credit, Bank of America, Getty, SEC, Purdue Pharma, Dua Lipa, Coldplay Locations: Amalfi, Vegas, ., Glastonbury, New York, London

☆ 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

☆ Supreme Court Rejects Liability Shield at Center of Purdue Pharma Settlement
▼ + stars: | 2024-06-27 | by ( Abbie Vansickle | ) www.nytimes.com time to read: +1 min

The Supreme Court ruled on Thursday that members of the wealthy Sackler family cannot be shielded from lawsuits over their role in the opioid crisis as part of a bankruptcy settlement that would channel billions of dollars to victims and their families. In a 5-to-4 decision, written by Justice Neil M. Gorsuch, a majority of the justices held that the federal bankruptcy code does not authorize a liability shield for third parties in bankruptcy agreements. Justice Gorsuch was joined by Justices Clarence Thomas, Samuel A. Alito Jr., Amy Coney Barrett and Ketanji Brown Jackson. In a strongly worded dissent, Justice Brett M. Kavanaugh wrote that the “decision is wrong on the law and devastating for more than 100,000 opioid victims and their families.” He was joined by Chief Justice John G. Roberts Jr. and Justices Sonia Sotomayor and Elena Kagan. The decision jeopardizes a carefully negotiated settlement Purdue and the Sacklers had reached in which members of the family promised to give up to $6 billion to states, local governments, tribes and individuals to address a devastating public health crisis.

Persons: Sackler, Justice Neil M, Gorsuch, Clarence Thomas, Samuel A, Alito Jr, Amy Coney Barrett, Ketanji Brown Jackson, Brett M, Kavanaugh, John G, Roberts Jr, Sonia Sotomayor, Elena Kagan Organizations: Chief, Purdue

☆ Purdue Opioid Settlement on Verge of Collapse After Supreme Court Ruling
▼ + stars: | 2024-06-27 | by ( Jan Hoffman | ) www.nytimes.com time to read: +1 min

The hard-fought settlement of thousands of lawsuits against Purdue Pharma was close to capsizing on Thursday, after the Supreme Court rejected liability protections for the company’s owners. The ruling effectively prevents the release of billions of dollars that could help alleviate the ravages of opioid addiction. The future of the cases, some of which are a decade old, is now in limbo, as states, local governments, tribes and more than 100,000 individuals who sued the company, best-known for its prescription painkiller OxyContin, figure out next moves. The court effectively upended the settlement by striking down a provision that Purdue’s owners, members of the billionaire Sackler family, had insisted upon: immunity from all current and future opioid lawsuits in return for payments of up to $6 billion to plaintiffs. In a statement, Purdue called the decision “heart-crushing,” because the settlement had been agreed to by an overwhelming majority of plaintiffs.

Persons: Sackler Organizations: Purdue Pharma, Purdue Locations: capsizing

☆ Supreme Court rejects multibillion-dollar Purdue Pharma opioid settlement that shielded Sackler family
▼ + stars: | 2024-06-27 | by ( John Fritze | ) edition.cnn.com time to read: +3 min

As the nation continues to grapple with the opioid epidemic, the Sackler family had agreed to pay $6 billion to families and states as part of an agreement to wind down Purdue Pharma, the maker of OxyContin. In exchange, the Sackler family would be immunized from future civil liability claims. Those supporting the bankruptcy argued the yearslong process had gone on long enough and was unlikely to yield additional money from the Sackler family. The vast majority of known current opioid victims and their families supported the agreement. But the Justice Department said it was a raw deal for victims – particularly potential future victims.

Persons: Sackler, Neil Gorsuch, ” Gorsuch, “, ” Kavanaugh, ”, John Roberts, Sonia Sotomayor, Elena Kagan Organizations: Washington CNN, Chief, Congress, Purdue Pharma, Department Locations: New York

☆ How the Supreme Court Case on Purdue Pharma and the Sackler Family Could Change Bankruptcy Law - The New York Times
▼ + stars: | 2024-06-04 | by ( Melissa B. Jacoby | ) www.nytimes.com time to read: +1 min

Update: On Thursday the Supreme Court ruled 5 to 4 that the federal bankruptcy code does not shield members of the Sackler family from liability for civil claims stemming from the opioid crisis. The United States Supreme Court is now considering whether the bankruptcy system should have given this wealthy family a permanent shield against civil liability. But there is a bigger question at stake, too: Why is a company with no lenders turning to the federal bankruptcy system in response to accusations of harm and misconduct? The maker of OxyContin is one in a long line of companies that have turned Chapter 11 into a legal Swiss Army knife, tackling problems that are a mismatch for its rules. But Chapter 11 was designed around the goal of helping financially distressed businesses restructure loans and other contract obligations.

Persons: Sackler, Brett Kavanaugh Organizations: Purdue Pharma, United States, Swiss Army Locations: Swiss

The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

☆ National Sciences Academy Asks Court to Strip Sackler Name From Endowment
▼ + stars: | 2024-04-12 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

The National Academy of Sciences is asking a court to allow it to repurpose about $30 million in donations from the wealthy Sackler family, who controlled the company at the center of the opioid epidemic, and to remove the family name from the endowment funds. The petition filed by the Academy in Superior Court in Washington, D.C., Thursday aims to modify the terms of the donations so the institution can use them for scientific studies, projects and educational activities. The move follows a report in The New York Times last year that examined donations from several Sackler members, including an executive of Purdue Pharma, which produced the painkiller OxyContin that has long been blamed for fueling the opioid crisis that has claimed thousands of lives. “The notoriety of the Sackler name has made it impossible for the Academy to carry out the purposes for which it originally accepted the funds,” Marcia McNutt, president of the National Academy of Sciences, said in a statement released on Thursday.

Persons: Sackler, ” Marcia McNutt Organizations: National Academy of Sciences, Academy, Washington , D.C, The New York Times, Sackler, Purdue Pharma Locations: Superior Court, Washington ,, The

☆ Supreme Court Allows $2.4 Billion Boy Scouts Sex Abuse Deal to Go Forward
▼ + stars: | 2024-02-22 | by ( Abbie Vansickle | More About Abbie Vansickle | ) www.nytimes.com time to read: 1 min

The Supreme Court cleared the way on Thursday for a $2.4 billion plan to settle sex abuse lawsuits against the Boy Scouts of America to go forward. The court’s brief, unsigned order gave no reasons, which is typical for emergency applications. There were no public dissents. A group of victims had asked the court to pause the plan as the justices consider an opioid settlement against Purdue Pharma, the manufacturer of OxyContin, and the members of the wealthy Sackler family who owned it, because that deal raised similar issues. Like the Purdue Pharma deal, the Boy Scouts agreement was settled in bankruptcy court using a contentious mechanism that insulates a third party from future lawsuits even without requiring that party to declare bankruptcy.

Persons: Sackler Organizations: Boy Scouts of, Purdue Pharma, Boy Scouts Locations: Boy Scouts of America

☆ An OxyContin advertiser will pay $350 million in the first-ever opioid marketing settlement
▼ + stars: | 2024-02-01 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

Publicis, a French marketing company, agreed to pay $350 million within the next two months and will not take on any more opioid clients, according to New York Attorney General Letitia James. “For a decade, Publicis helped opioid manufacturers like Purdue Pharma convince doctors to overprescribe opioids, directly fueling the opioid crisis and causing the devastation of communities nationwide,” said James in a statement. For its alleged role in the opioid crisis, McKinsey in 2021 agreed to pay $573 million to states as part of multiple settlements. “The fight against the opioid crisis in the United States requires collaboration across industries, lawmakers, and communities, and we are committed to playing our part. Purdue Pharma first introduced the opioid drug OxyContin in the 1990s and promoted it as non-addictive.

Persons: Letitia James, Phil Weiser, Publicis, ”, James, ” Publicis, Sackler Organizations: New, New York CNN, Purdue Pharma’s, New York, Colorado, Purdue Pharma, McKinsey, Purdue, Centers for Disease Control, Biden, Sackler Locations: New York, French, United States

It is the first advertising company to reach a major settlement over the toll of opioids in the U.S. It faced a lawsuit in at least Massachusetts but settled with most states before they made court claims against it. James' office said the materials played up the abuse-deterrent properties of OxyContin and promoted increasing patients' doses. As part of the settlement, Publicis agreed to release internal documents detailing its work for Purdue and other companies that made opioids. The first began after OxyContin hit the market in 1996 and was linked mostly to prescription opioids, many of them generics.

Persons: Letitia James, Publicis, James, Bob Ferguson, Rosetta, ” Publicis, Sackler, OxyContin Organizations: Publicis, Publicis Groupe, New York, Purdue Pharma, Washington, Purdue, State Pharmacy, U.S, Supreme Locations: Paris, U.S, Massachusetts, Connecticut

☆ Institutions Are (Quietly) Taking Sackler Money
▼ + stars: | 2024-01-25 | by ( Alex Marshall | ) www.nytimes.com time to read: +1 min

When arts organizations began shunning the Sackler family over its role in the U.S. opioid crisis, it wasn’t just American institutions that cut ties. Museums in Britain that had accepted Sackler largess were among the first to take action. After the National Portrait Gallery in London canceled a $1.3 million Sackler donation in 2019, the Tate museum group announced it would not seek any more of the family’s support. Other museums began discussing removing the Sackler name from their walls. According to the Sackler Trust’s latest accounts, which were published this month, the nonprofit committed around 5.2 million pounds, or $6.6 million, in 2022, comprising 66 grants to institutions.

Persons: Sackler, — Organizations: Museums, Tate, Sackler Trust —, Purdue Pharma, Sackler Locations: U.S, Britain, London, British

☆ Supreme Court Weighs Purdue Pharma’s $6 Billion Opioid Settlement
▼ + stars: | 2023-12-05 | by ( Jess Bravin | ) www.wsj.com time to read: +1 min

Purdue Pharma headquarters in 2019; a Purdue lawyer said in court Monday that if a settlement with the company didn’t go forward, opioid-crisis victims might not see compensation. Photo: timothy a. clary/Agence France-Presse/Getty ImagesWASHINGTON—Supreme Court justices wrestled Monday with the uncomfortable bargain struck between most victims of the opioid crisis and the Sackler family, whose Purdue Pharma promoted the addictive painkiller OxyContin: providing timely compensation for survivors in exchange for granting the wealthy family immunity from future civil lawsuits. That settlement was reached before a bankruptcy judge and approved in May by a federal appeals court in New York. It would see the Sacklers pay $6 billion to individual victims and state governments in exchange for eliminating potential liability for additional claims, such as fraud—even though they, unlike Purdue, haven’t sought bankruptcy protection. The deal was made under a catchall provision of federal law authorizing bankruptcy judges to issue orders and judgments that may be “necessary or appropriate” to resolve cases.

Persons: timothy, clary, Sackler, haven’t Organizations: Purdue Pharma, Purdue, Agence France, Getty, WASHINGTON Locations: New York

☆ Purdue mess pits drug victims against due process
▼ + stars: | 2023-12-05 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

That’s the dilemma currently facing the parties involved in the case regarding Purdue Pharma, including states, individuals, and the company’s founding Sackler family. According to the lawsuit, the family withdrew $11 billion from Purdue, but only contributed $6 billion to the settlement. Side with the DOJ, and the Supreme Court could clean up the bankruptcy process that often shields individuals and companies. For now, though, either the victims of the opioid epidemic will have to wait, or those wanting to end bankruptcy shields will. Follow @rob_cyran on XCONTEXT NEWSThe Supreme Court heard arguments on Dec. 4 over whether to approve the Purdue Pharmaceuticals bankruptcy agreement.

Persons: Sackler, Elena Kagan, Neil Gorsuch, Kagan, Gorsuch, Brett Kavanaugh, They’ve, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, U.S, Supreme, Purdue Pharma, U.S . Department of Justice, Purdue, Liberal, DOJ, Purdue Pharmaceuticals, Thomson

WASHINGTON (AP) — The Supreme Court is hearing arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from civil lawsuits over the toll of opioids. The agreement hammered out with state and local governments and victims would provide billions of dollars to combat the opioid epidemic. Sackler family members no longer are on the company's board and they have not received payouts from it since before Purdue Pharma entered bankruptcy. In the decade before that, though, they were paid more than $10 billion, about half of which family members said went to pay taxes. A decision in Harrington v. Purdue Pharma, 22-859, is expected by early summer.

Persons: Sackler, Biden, Trump, ” OxyContin Organizations: WASHINGTON, Purdue Pharma, U.S, Bankruptcy, Justice Department, Purdue Locations: Stamford , Connecticut, Harrington

☆ Supreme Court questions opioid liability protections for Sackler family
▼ + stars: | 2023-12-04 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

WASHINGTON — Members of the Supreme Court seemed conflicted on Monday over whether to allow the bankruptcy reorganization of opioid maker Purdue Pharma, which includes a provision that protects the Sackler family from liability from future lawsuits. During the oral argument, justices expressed skepticism that a bankruptcy court had legal authority to release the Sacklers from potential legal claims. No Sackler family member has had any involvement in the company since 2019. The company sought bankruptcy protection, but the Sackler family members did not. She added that it would be "an extraordinary thing" if the court allowed the family to "basically subvert" the bankruptcy process.

Persons: Sackler, Pharm, Biden, Neil Gorsuch, Brett Kavanaugh, Elena Kagan's, Kagan, Pratik Shah, Elizabeth Prelogar Organizations: WASHINGTON, Purdue Pharma, New York's Southern, Federal Court, Purdue Locations: New York's, White Plains

☆ 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

☆ Supreme Court to Hear Challenge to Controversial Purdue Pharma Deal
▼ + stars: | 2023-12-04 | by ( Abbie Vansickle | More About Abbie Vansickle | ) www.nytimes.com time to read: +1 min

Purdue Pharma and the wealthy family that controlled it are forever linked to the deadly opioid epidemic, which has left hundreds of thousands of people dead. But their role in the public health crisis is not the central question that the Supreme Court will wrestle with on Monday when it hears arguments over a bankruptcy settlement involving Purdue, the maker of the highly addictive painkiller OxyContin. Instead, the justices will focus on a narrower issue: whether the plan, devised to address the thousands of claims brought by state and local governments, tribes, hospitals and individual victims, can give wide-ranging legal protections to members of the Sackler family, the owners of the company. Under the deal, the Sacklers would pay up to $6 billion of their fortune toward settling those claims in exchange for immunity from all civil legal disputes related to the opioid crisis and Purdue.

Persons: Sackler Organizations: Purdue Pharma, Purdue

At issue is whether U.S. bankruptcy law allows Purdue's restructuring to include legal protections for the members of the Sackler family, who have not filed for personal bankruptcy. Members of the Sackler family have denied wrongdoing but expressed regret that OxyContin "unexpectedly became part of an opioid crisis." They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration told the Supreme Court that Purdue's settlement is an abuse of bankruptcy protections meant for debtors in "financial distress," not people like the Sacklers. The administration has also alleged that the Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to its opioid settlement.

Persons: painkiller, George Frey, Joe Biden's, Sackler, Biden, OxyContin, John Kruzel, Andrew Chung, Will Dunham Organizations: Purdue Pharma L.D, REUTERS, Rights, Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, Circuit, Thomson Locations: Provo , Utah, U.S, Stamford , Connecticut, Manhattan

☆ The oxycontin-peddling Sackler family has tried to get immunity from civil lawsuits by filing for bankruptcy. That might be illegal.
▼ + stars: | 2023-12-03 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

The US Supreme Court will decide whether Purdue Pharma's bankruptcy settlement will stand. Officially referred to as third-party nonconsensual releases, the legal maneuver allows organizations to settle personal injury claims in bankruptcy court instead of civil court. Legal experts say companies are more often relying on bankruptcy court than civil court to settle claims, The New York Times reported. Opponents of the practice say it robs regular people of their day in civil court. The Sacklers' settlement deal did not require the Sacklers themselves to declare bankruptcy, just Purdue Pharma, according to the Times.

Persons: Sackler, — Organizations: Purdue, Service, Purdue Pharma, Reuters, The New York Times, Times

☆ Explainer: How will the Supreme Court reshape US opioid epidemic relief?
▼ + stars: | 2023-12-03 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

The settlement also would shield the Stamford, Connecticut-based pharmaceutical company's wealthy Sackler family owners from lawsuits brought by opioid victims. A U.S. bankruptcy court approved that restructuring plan in 2021. Lawsuits against Purdue and Sackler family members accuse them of fueling the opioid epidemic through deceptive marketing of its pain medication. They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration also has said Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to the opioid settlement.

Persons: OxyContin, Sackler, Department's, Joshua Silverstein, Silverstein, Joe Biden's, John Kruzel, Dietrich Knauth, Will Dunham Organizations: Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, U.S ., District of Columbia, University of Arkansas, Justice Department, Thomson Locations: Stamford , Connecticut, United States, U.S, Little, New York

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