Purdue Pharma asks bankruptcy judge to accept new settlement plan

Purdue Pharma asks bankruptcy judge to accept new settlement plan

Purdue Pharma has filed a new bankruptcy plan as part of a $7.4 billion settlement to resolve thousands of lawsuits over the company's alleged role in the opioid crisis, months after the Supreme Court blocked a prior deal. The bankrupt company announced Tuesday it had filed a Chapter 11 Plan of Reorganization in the U.S. Bankruptcy Court for the Southern District of New York. In June of last year, the Supreme Court blocked a settlement deal, fin…

Purdue Pharma Files New Bankruptcy Plan For $7.4 Billion Opioid Settlement

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Purdue Pharma Files For Bankruptcy, Proposes New $7.4 Billion Settlement Plan In Opioid Case

Amid the ongoing opioid crisis, Purdue Pharma has proposed a new bankruptcy plan. The pharmaceutical giant is offering a settlement of at least $7.4 billion to address its role in the crisis.

Purdue Pharma, the maker of Oxycontin, goes bankrupt for the second time - Economic Scenarios

Drugmaker Purdue Pharma, famous for the large-scale production and distribution of OxyContin, filed a new bankruptcy plan Tuesday, marking a major step toward finalizing a settlement to pay $7.4 billion for opioid damages. The company that makes the powerful semisynthetic opioid oxycodone, also marketed as OxyContin and under other names, has filed a Chapter 11 plan of reorganization and related disclosure statement in the U.S. Bankruptcy Court …

Purdue Pharma Files New Plan To Settle OxyContin Lawsuits

Purdue Pharma asked a bankruptcy judge Tuesday to consider the latest version of its plan to settle thousands of lawsuits over the toll of the powerful prescription painkiller OxyContin, a deal that would have members of the Sackler family who own the company pay up to $7 billion. The filing is a milestone in a tumultuous legal saga that has gone on for more than five years, the Associated Press reports. The family members — estimated to be wort…