US Supreme Court rejects $6bn opioid settlement with Purdue Pharma, citing bankruptcy law restrictions.

The US Supreme Court has rejected a $6bn opioid settlement with OxyContin maker Purdue Pharma, which would have provided billions to combat the opioid epidemic and shielded the Sackler family, who own the company, from further civil lawsuits. The decision, made in a 5-4 vote, has potentially significant implications for other major bankruptcy agreements, including the $2.4bn bankruptcy plan for the Boy Scouts of America. The court ruled that granting such protections to those who did not file for bankruptcy themselves was not permitted under bankruptcy law.

June 27, 2024
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