California Attorney General Appeals Purdue Pharma's Sackler Settlement
By Jonathan Randles
California Attorney General Rob Bonta is appealing a $4.5B
bankruptcy settlement between OxyContin maker Purdue Pharma LP and
members of the Sackler family who own it, according to court papers
Mr. Bonta is joining state attorneys general for Connecticut,
Washington, Maryland and the District of Columbia as well as the
Justice Department, which earlier moved to challenge the settlement
in higher courts.
The deal, approved earlier this month by U.S. Bankruptcy Judge
Robert Drain, will shield members of the Sackler family from civil
opioid lawsuits in exchange for roughly $4.5 billion.
The settlement is a key piece of Purdue's approved chapter 11
exit plan, which resolves legal liability over its flagship
OxyContin opioid painkiller.
Write to Jonathan Randles at firstname.lastname@example.org
(END) Dow Jones Newswires
September 24, 2021 14:20 ET (18:20 GMT)
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