The Supreme Court has agreed to review a $6 billion opioid settlement involving Purdue Pharma following a Biden administration appeal.
The deal would involve immunity for current and future civil claims against the company.
The Daily Caller: SCOTUS Deals Blow To Opioid-Profiteering Family. Biden Crime Family on deck. https://t.co/S7SbRdefpq
— “ TRUTH Speaker” (@FreeAdvice767) August 10, 2023
Purdue Pharma opposed the judicial review in a statement to the Daily Caller.
“We are confident in the legality of our nearly universally supported Plan of Reorganization, and optimistic that the Supreme Court will agree,” Purdue Pharma said in a statement given to the Daily Caller News Foundation.
“Even so, we are disappointed that the U.S. Trustee, despite having no concrete interest in the outcome of this process, has been able to single-handedly delay billions of dollars in value that should be put to use for victim compensation, opioid crisis abatement for communities across the country, and overdose rescue medicines," it added.
BREAKING: The Supreme Court blocked a nationwide settlement with OxyContin maker Purdue Pharma that would shield Sackler family members from civil lawsuits. https://t.co/bQUCoe0rpq
— The Associated Press (@AP) August 10, 2023
"The justices agreed to a request from the Biden administration to put the brakes on an agreement reached last year with state and local governments. In addition, the high court will hear arguments before the end of the year over whether the settlement can proceed," the Associated Press reported.
"The deal would allow the company to emerge from bankruptcy as a different entity, with its profits used to fight the opioid epidemic. Members of the Sackler family would contribute up to $6 billion," it added.
The U.S. Supreme Court has temporarily blocked Purdue Pharma's plan to emerge from bankruptcy, a plan that has shielded the Sackler families from liability in the nation's opioid epidemic. https://t.co/N6l1wjiMuE
— ABC News (@ABC) August 11, 2023
"A federal judge in New York initially blocked the reorganization, however, ruling that bankruptcy laws do not allow liability shields to be given to parties that aren't actually filing for bankruptcy," ABC News reported.
"An appellate court disagreed, reinstating the bankruptcy plan, and the DOJ asked the U.S. Supreme Court to intervene," it continued.
The case could delay settlements to over 100,000 people impacted by the case, according to legal firm involved.
The massive settlement, however, needs another look according to the Supreme Court, to make certain that the process is handled accurately.
