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Sacklers threaten to scrap opioid deal if they aren't shielded from lawsuits
Lawyers for OxyContin-maker Purdue Pharma filed a new complaint late Wednesday threatening that the company's mega-rich owners, the Sackler family, could pull out of a proposed multi-billion-dollar opioid settlement deal if a bankruptcy judge doesn't shield the family from outstanding state lawsuits.
Purdue's lawyers argue that if the lawsuits continue, the Sacklers will have to waste "hundreds of millions of dollars" on legal costs that could otherwise go to claimants in the settlement. The family's lawyers added that in that event, the family "may be unwilling—or unable—to make the billions of dollars of contributions" to the proposed settlement.
State attorneys general, however, argue that the tactic is yet another move designed to shield the Sacklers and their ill-gotten wealth.
"This filing isn't a surprise. It's yet another effort by Purdue to avoid accountability and shield the Sackler family fortune, and we will be opposing it," Maura Healey, the attorney general of Massachusetts, told the New York Times.
Related:
- Makers of OxiCotin, Purdue Pharma, Files Reorganization Chapter 11 "Bankrupty"
- Opioid Talks Fail, Purdue Bankruptcy Filing Expected
(Score: 0) by Anonymous Coward on Sunday September 22 2019, @12:42AM (3 children)
Major litigation often takes years to play out, so you don't really see major short term variation. The hundreds of millions that the Sacklers are musing about possibly spending would potentially be spend over the course of decades, not just one crazy big check they would sign at a specific time. Lawyers typically have multiple cases in-flight at any one time.
There was apparently a Vietnam draft eligibility related case still going in 2006, if that gives you any idea how long these things can drag out to smooth out the short term variations... : https://www.guinnessworldrecords.com/world-records/longest-running-civil-court-case-by-an-individual/ [guinnessworldrecords.com]
(Score: 2) by JoeMerchant on Sunday September 22 2019, @02:31AM (2 children)
Sure, but how many billable hours can one, in good conscience, charge for a case that drags on so? It's not like the draft eligibility case is wholly consuming a crack legal team 200 man hours per week for 40 years...
🌻🌻 [google.com]
(Score: 5, Funny) by stretch611 on Sunday September 22 2019, @03:56AM
In this case it would be an "opioid legal team" not crack
Now with 5 covid vaccine shots/boosters altering my DNA :P
(Score: 2, Funny) by redneckmother on Sunday September 22 2019, @08:29AM
"... in good conscience ..."
Wait - what? I thought we were talking about lawyers!
Mas cerveza por favor.