Bankruptcy
Jan. 24, 2025
New deal reached in Purdue Pharma opioid settlement
Fifteen attorneys general, including California's Rob Bonta, announced a revised $6.5 billion settlement with Purdue Pharma and the Sackler family to address claims from the opioid epidemic. The deal includes additional funds and resolves objections raised by the U.S. Supreme Court, but a contentious $800 million set-aside provision for future lawsuits has drawn criticism.
Following the U.S. Supreme Court's rejection of a $6 billion settlement between California and other states with the Sackler family and Purdue Pharma to compensate for the damages caused by the addictive painkiller OxyContin, 15 attorneys general announced an agreement in principle Thursday to overcome the justices' objections.
The proposed settlement, announced by Attorney General Rob Bonta in a news conference, includes more money from the Sacklers but an unusual provisi...
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