Judge approves Purdue’s controversial bankruptcy plan, paving the way for immunity for Sacklers
After two years of contentious bargaining, a U.S. bankruptcy court judge on Wednesday approved a controversial plan that will dissolve Purdue Pharma, which has been blamed for triggering a widespread opioid crisis, and shield members of the Sackler family who control the company from future lawsuits.
The settlement calls for some Sackler family members to contribute more than $4.3 billion over roughly a decade to compensate people, local governments, and tribal communities that were harmed by the OxyContin painkiller. Another $175 million will be contributed after the Sackler family members relinquish control of several charitable institutions.
