Supreme Court Overturns $6 Billion Purdue Pharma Settlement, Sacklers Face Renewed Legal Battles
June 27, 2024The US Supreme Court invalidated a $6 billion settlement agreement for Purdue Pharma and the Sackler family.
The ruling, made in a 5-4 decision, prevents the Sacklers from being shielded from future opioid-related lawsuits.
The decision was a victory for those opposing the deal, including families affected by the opioid crisis.
The court found that the Sacklers sought too much protection without giving up enough assets.
OxyContin, made by Purdue Pharma, is linked to the opioid crisis, which has caused a surge in overdose deaths.
Attorney General Josh Stein plans to renegotiate payment terms as the Sacklers withdrew billions from Purdue.
The ruling means settlement talks must restart, while Purdue Pharma's bankruptcy proceedings continue.
Despite the decision, Purdue Pharma plans to restart negotiations.
Some families affected by the crisis hope to see criminal charges filed against the Sacklers.
The decision is seen as a victory for justice and a step towards aiding communities affected by the opioid crisis.
Summary based on 25 sources
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Sources
The New York Times • Jun 27, 2024
Purdue Opioid Settlement on Verge of Collapse After Supreme Court RulingThe Washington Post • Jun 27, 2024
Supreme Court blocks controversial Purdue Pharma opioid settlementInsider • Jun 27, 2024
Supreme Court rejects $7 billion bankruptcy plan protecting Sacklers