XPH - Purdue Pharma Bankruptcy Plan Rejected by Supreme Court Billionaire Sacklers to Face Lawsuits | Benzinga
The Supreme Court has rejected a bankruptcy plan for OxyContin-maker Purdue Pharma that would have allocated billions from the wealthy Sackler family to combat opioid addiction, and the Sacklers would have been shielded from civil lawsuits related to their alleged role in the opioid crisis.
The 5-4 decision marks a victory for a minority of opioid victims who voted against the settlement to continue pressing lawsuits against the Sackler family.
It is a setback for most victims and state and local governments who have accepted the settlement.
The Wall Street Journal notes the ruling is among the highest-profile bankruptcy decisions ever from the high court, significantly weakening the ability of corporations and their insiders to use bankruptcy ...