Supreme Court rejects a bankrtuptcy judge's $10 billion opioid settlement because the Sacklers are not bankrupt
The Supreme Court on Thursday rejected a mass settlement of the opioid crisis which would have paid an estimated $10 billion to victims, hospitals, states and others, and shielded the Sackler family from further liability. By a 5-4 vote, the justices ruled that a bankruptcy judge does not have broad power to arrange a mass settlement of thousands of claims that includes protections for people who are not bankrupt. The justices were split in an unusual way. Justice Neil M.
Purdue Pharma filed for bankruptcy in 2019 facing thousands of lawsuits alleging its marketing of OxyContin as a non-addictive pain relief pill had triggered an opioid epidemic that led to more than a half-million deaths since the mid-1990s. In the decade prior to the bankruptcy, the company had distributed about $11 billion to members of the Sackler family and their off-shore accounts. Their lawyers maintained that more than half of this amount was paid in taxes.
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