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Purdue filed for bankruptcy in September 2019 in the face of 3,000 lawsuits accusing the company and Sackler family members of contributing to a public health crisis that has claimed the lives of about 500,000 people since 1999. McMahon's ruling came a week after the Metropolitan Museum of Art and the Sacklers, long known for their philanthropy, announced an agreement to remove Sackler name from seven exhibition spaces. The Sacklers have said much of the money went toward taxes and investments, as opposed to their pockets. The Sacklers have faced allegations, which they deny, that they authorized the financial transfers to prevent the money from being drained in future litigation against Purdue. McMahon raised questions about more than $10 billion Purdue distributed to the Sacklers spanning a roughly decade-long period that preceded the company’s bankruptcy filing. Justice Department’s bankruptcy watchdog and the Manhattan U.S. More than 95% of creditors – in this case predominantly plaintiffs suing Purdue and the Sacklers – voted to approve the drugmaker’s reorganization.īut eight states, Washington, D.C., Seattle and more than 2,600 personal injury claimants voted against Purdue’s reorganization, McMahon said. “I’m prepared to take this fight all the way to the Supreme Court, if necessary, to ensure true accountability for the Sackler family.” “There cannot be two forms of justice – one for ordinary Americans and a different one for billionaires,” Ferguson said.
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Washington State Attorney General Bob Ferguson, who had objected to Purdue's reorganization, also praised McMahon's decision. "The bankruptcy court did not have the authority to deprive victims of the opioid crisis of their right to sue the Sackler family," Garland said. Representatives for the Sacklers did not immediately respond to a request for comment late on Thursday.Īttorney General Merrick Garland said in a statement he was pleased with the ruling.
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The Sacklers threatened to walk away from the settlement absent the guaranteed legal protections.
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The Sacklers had insisted on the legal shields, known as nondebtor releases because they protect parties that have not filed for bankruptcy themselves, in exchange for contributing $4.5 billion toward resolving widespread opioid litigation. "While the district court decision does not affect Purdue’s rock-solid operational stability or its ability to produce its many medications safely and effectively, it will delay, and perhaps end, the ability of creditors, communities, and individuals to receive billions in value to abate the opioid crisis," Purdue Chairman Steve Miller said in a statement.
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