Purdue Pharma’s Bankruptcy Plan Includes Special Protection for the Sackler Family Fortune
A lawsuit alleges that the Sackler family that owns Purdue Pharma has been transferring billions of dollars from the company to personal accounts in an effort to protect funds from litigation, reports The Washington Post.
“Now, as the maker of OxyContin heads to bankruptcy court, those billions represent a central sticking point in the company’s plan to resolve thousands of lawsuits against it. Purdue asked the bankruptcy judge, Robert D. Drain, on Wednesday to take the unusual step of temporarily halting lawsuits against the Sackler family,” write the Post‘s Renae Merle and Lenny Bernstein.
The company said the Sackler family could back out of a settlement agreement with multiple states if it cannot get the protection it seeks.
