The Sackler family would also contribute up to $6 billion over several years to pay many victims of the crisis. The court heard oral arguments that day regarding a nationwide settlement with Purdue Pharma, manufacturer of OxyContin. The settlement aims to protect the Sackler family, which owns the company, from civil lawsuits. In a more technical discussion, the justices also probed whether the bankruptcy court overstepped its congressional authority to approve measures that are “appropriate” for upholding the core settlement. The Purdue deal, they said, was comparable to countless past bankruptcy cases that insulated company officers from further liability.

Source: Huffington Post June 28, 2024 09:03 UTC