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Judge shields OxyContin-maker Purdue from litigation until April
Source: Reuters
BUSINESS NEWS NOVEMBER 6, 2019 / 5:29 PM / UPDATED 2 HOURS AGO
Judge shields OxyContin-maker Purdue from litigation until April
Tom Hals
3 MIN READ
(Reuters) - Purdue Pharma LP and the company’s Sackler family owners will be shielded until April 8, 2020, from sprawling opioid litigation to give the maker of OxyContin time to try to reach a legal settlement the company says is worth $10 billion.
U.S. Bankruptcy Judge Robert Drain said on Wednesday he would approve an order extending a stay on more than 2,600 lawsuits that accuse Purdue and the Sacklers of fueling a crisis that contributed to 400,000 U.S. deaths between 1999 and 2017.
Drain, whose court is in White Plains, New York, ordered a brief stay of the litigation in October.
While the litigation is on hold, Purdue and the Sacklers committed to share information with the states, municipalities, Native American tribes, hospitals, individuals and others who have sued.
Purdue filed for bankruptcy in September to try to corral the parties to one court and build support for its proposed settlement, which will now be evaluated through the discovery process with the company and the Sacklers.
-snip-
Judge shields OxyContin-maker Purdue from litigation until April
Tom Hals
3 MIN READ
(Reuters) - Purdue Pharma LP and the company’s Sackler family owners will be shielded until April 8, 2020, from sprawling opioid litigation to give the maker of OxyContin time to try to reach a legal settlement the company says is worth $10 billion.
U.S. Bankruptcy Judge Robert Drain said on Wednesday he would approve an order extending a stay on more than 2,600 lawsuits that accuse Purdue and the Sacklers of fueling a crisis that contributed to 400,000 U.S. deaths between 1999 and 2017.
Drain, whose court is in White Plains, New York, ordered a brief stay of the litigation in October.
While the litigation is on hold, Purdue and the Sacklers committed to share information with the states, municipalities, Native American tribes, hospitals, individuals and others who have sued.
Purdue filed for bankruptcy in September to try to corral the parties to one court and build support for its proposed settlement, which will now be evaluated through the discovery process with the company and the Sacklers.
-snip-
Read more: https://www.reuters.com/article/us-purdue-pharma-bankruptcy/judge-shields-oxycontin-maker-purdue-from-litigation-until-april-idUSKBN1XG32O