Search for: "Sackler Family Trust"
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30 May 2023, 10:23 am
Purdue Pharma will now become Knoa Pharma, which will be owned by a trust that will fund opioid crisis reduction efforts and will have no affiliation with the Sackler family. [read post]
24 Mar 2021, 11:53 am
The latest, and perhaps final plan submitted to the courts for approval would oust the family from Purdue, converting it into a public trust company. [read post]
22 Oct 2020, 4:06 am
Individual shareholders, members of the Sackler family, agreed to pay $225 million to avoid civil liability under the False Claims Act. [read post]
2 Oct 2019, 8:10 pm
The trust (or litigation vehicle) will then go and litigate against the Sacklers, and any recoveries will go to opioid victims. [read post]
17 Dec 2019, 1:56 pm
The family also said it would give up ownership of Purdue, which will transform itself into a public-benefit trust. [read post]
2 Jun 2023, 9:51 am
Circuit Court of Appeals ruled that members of the Sackler family who own bankrupt Oxycontin manufacturer Purdue Pharma could be shielded from current and future civil claims by giving up control of the company and contributing up to $6 billion to a trust for paying states, hospitals and victims of opioid addiction who have sued the company. [read post]
7 Dec 2023, 12:11 pm
These releases would shield Purdue's owners, the Sackler family, from future lawsuits related to the opioid crisis, including potential workers' compensation claims. [read post]
21 Jul 2021, 12:44 pm
The manufacturers named in the complaint included Purdue Pharma and its affiliates, as well as members of the Sackler Family (owners of Purdue) and trusts they control; Janssen Pharmaceuticals and its affiliates (including its parent company Johnson & Johnson); Mallinckrodt LLC and its affiliates; Endo Health Solutions and its affiliates; Teva Pharmaceuticals USA, Inc. and its affiliates; and Allergan Finance, LLC and its affiliates. [read post]
29 Nov 2022, 10:54 am
” In this case, the non-consensual third-party release required all claimants to absolve the Sackler family (the owners of Purdue during the alleged wrongdoing) of any further civil liability to participate in the Purdue bankruptcy case. [read post]
22 Feb 2024, 2:14 pm
In that case, the Department of Justice objects to provisions in the plan that release members of the Sackler family, which principally owns the company and controlled it until recently, from liability. [read post]
7 Jul 2021, 6:30 am
Another book I am reading now is Empire of Pain, Patrick Radden Keefe’s account of the Sackler family’s role in causing the Oxycontin and opioid crisis. [read post]
31 Oct 2023, 9:05 pm
The U.S. solicitor general, who sought certiorari on behalf of the United States Trustee, has argued in her brief to the Court that, between 2008 and 2016, Purdue recognized that its insolvency was looming and paid out approximately $11 billion “to the Sackler family member trusts and holding companies” in “what one family characterized as a ‘milking program’. [read post]
8 Mar 2024, 9:05 pm
Simon objects to the proliferation of bankruptcy “grifters,” whom she describes as solvent, non-debtor third parties that benefit from a company’s Chapter 11 filing—such as the Sackler family in the Purdue Pharma bankruptcy. [read post]
20 Dec 2023, 2:58 pm
Similarly, the Sackler family chose White Plains as the venue to file the bankruptcy of opioid producer Purdue Pharma (with nothing more than leased office space as a connection) because it was thought to be a forum that would allow them to bind dissenting tort claimants to releases of non-debtor members of the Sackler family. [read post]
3 May 2019, 7:44 am
The Sackler family, essentially the godfathers of OxyContin, are now facing legal action for knowingly downplaying the risks associated with their drugs. [read post]
4 Dec 2021, 11:03 am
., As Part of a $4.5 Billion Oxycontin Settlement, the Sackler Family Has Promised Not to Lend Its Name to Museums for Nine Years. [read post]
