Sacklers threaten to scrap opioid deal if they aren’t shielded from lawsuits
Sacklers threaten to scrap opioid deal if they aren’t shielded from lawsuits.Photo: . Pictures may be protected by copyright.
Sacklers seek "the benefit of bankruptcy without the burdens of bankruptcy."
Enlarge / PURDUE PHARMA, STAMFORD, CT, UNITED STATES - 2019/09/12: Members of P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm staged a protest on September 12, 2019 outside Purdue Pharma headquarters in Stamford, over their recent controversial opioid settlement. (credit: Getty | Erik McGregor ) Lawyers for OxyContin-maker Purdue Pharma filed a new complaint late Wednesday threatening that the company’s mega-rich owners, the Sackler family, could pull out of a proposed multi-billion-dollar opioid settlement deal if a bankruptcy judge doesn’t shield the family from outstanding state lawsuits. Purdue’s lawyers argue that if the lawsuits continue, the Sacklers will have to waste “hundreds of millions of dollars” on legal costs that could otherwise go to claimants in the settlement. The family's lawyers added that in that event, the family “may be unwilling—or unable—to make the billions of dollars of contributions” to the proposed settlement. State attorneys general, however, argue that the tactic is yet another move designed to shield the Sacklers and their ill-gotten wealth. Read 12 remaining paragraphs | Comments