The U.S. Supreme Court has agreed to review a controversial bankruptcy case involving Purdue Pharma, the maker of Oxycontin, and members of the Sackler family who own the company.
Justices on Thursday temporarily blocked implementation of the $6 billion deal while the appeal is heard. Arguments in the case have been scheduled for December.
A federal bankruptcy court in New York first approved the complex settlement in 2021. Wealthy members of the Sackler family were included even though they're not bankrupt.
In exchange for a $6 billion dollar payment from the Sacklers, the arrangement would block future opioid lawsuits targeting them.
In a brief statement today, the Supreme Court ordered attorneys for the U.S. Trustee Division of the DOJ, Purdue Pharma and the Sacklers to prepare arguments on one question:
Does US bankruptcy code allow courts to approve deals, as part of a Chapter 11 filings, that extinguish claims against third parties that aren't bankrupt?
I doubt anything that isn't beneficial to the extremely wealthy will come out of the current supreme Court, but here's hoping. They incentivized over prescribing of opioids and hid the risks to...
I doubt anything that isn't beneficial to the extremely wealthy will come out of the current supreme Court, but here's hoping. They incentivized over prescribing of opioids and hid the risks to line their own pockets, killing hundreds of thousands of people in the process. They should be punished and not be allowed to skirt justice through legal loopholes.
I doubt anything that isn't beneficial to the extremely wealthy will come out of the current supreme Court, but here's hoping. They incentivized over prescribing of opioids and hid the risks to line their own pockets, killing hundreds of thousands of people in the process. They should be punished and not be allowed to skirt justice through legal loopholes.