The US Supreme Court has blocked OxyContin maker Purdue Pharma’s bankruptcy settlement, which would have shielded its wealthy Sackler family owners from lawsuits over their role in the deadly opioid epidemic in the United States.The 5-4 decision reversed a lower court’s ruling that had upheld the plan to give Purdue Pharma’s owners immunity in exchange for paying up to $6bn to settle thousands of lawsuits accusing the company of unlawful misleading marketing of OxyContin, a powerful pain medication introduced in 1996.The ruling on Thursday represented a victory for US President Joe Biden’s administration, which had challenged the settlement as an abuse of bankruptcy protections meant for debtors in financial distress, not people like the Sacklers, who have not filed for bankruptcy.
Load More
Load More
