There is a significant amount of public narrative and hand-wringing these days over the state of our public institutions, but we take hope from the resiliency of the civil-justice system and its ability to strengthen and re-orient our values. Yes, there have been stress tests on our democratic infrastructure, but there are many recent examples […]
Purdue Pharma
Posted inCrime and Courts, Health, News
Colorado unveils plan to distribute $400 million in opioid settlement money
Roughly $400 million in settlement money expected to be secured by Colorado from drug companies sued for their alleged role in the opioid epidemic would be split between state and local governments under a tentative deal unveiled Thursday that calls for the money to be spent on building treatment facilities and bolstering prevention and education […]
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Colorado would get at least $50 million under proposed settlement of national opioid lawsuits against Purdue Pharma
Colorado would receive at least $50 million from a proposed multibillion dollar deal with Purdue Pharma and the family that owns the company to settle thousands of lawsuits over the bankrupt pharmaceutical giant’s alleged role in the opioid crisis. The deal comes after Colorado and 14 other states late Wednesday agreed to drop their opposition […]
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Jonathan Sackler, co-owner of Purdue Pharma and target of Colorado lawsuit, dies
STAMFORD, Conn. — Jonathan Sackler, one of the owners of OxyContin maker Purdue Pharma, has died, the company confirmed. Sackler died June 30, according to a court filing. He was 65 and the cause of death was cancer. He was the son of Raymond Sackler, one the brothers who bought drug company Purdue Frederick in […]
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Judge: Purdue workers should get bonuses, but maybe not CEO being sued by Colorado and other states
By Goeff Mulvihill, The Associated Press WHITE PLAINS, N.Y. — More time is needed to sort out whether the CEO of OxyContin maker Purdue Pharma should receive a $1.3 million bonus next year, but the company should be allowed to pay about $35 million in bonuses to 682 other employees, the judge overseeing the company’s […]
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Bankruptcy judge considers $1.3 million bonus for Purdue Pharma CEO being sued by Colorado
By Geoff Mulvihill, The Associated Press The judge overseeing the bankruptcy case of OxyContin maker Purdue Pharma will consider Wednesday whether the company’s CEO should get a bonus equal to half his $2.6 million salary. Attorneys general representing about half the states say the company’s chief executive Craig Landau shouldn’t get a bonus, arguing in […]
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For months Colorado has quietly been in talks for another multibillion-dollar opioid settlement
For more than a year, Colorado has been locked in a high-profile legal battle with Purdue Pharma that has been recently bogged down amid a bankruptcy filing and disagreements over the size of a settlement. In a separate case, however, the state could soon secure millions of dollars to fight the opioid crisis from five […]
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Colorado, other states say OxyContin maker Purdue Pharma should not pay bonuses
WHITE PLAINS, N.Y. — OxyContin maker Purdue Pharma should be prohibited from giving $38 million in employee payouts as it goes through bankruptcy, attorneys general from 24 states, including Colorado, said in a court filing Thursday. Purdue has said it needs to make bonus payments to keep employees and maintain operations at a time of […]
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Can Purdue Pharma’s opioid settlement win judge’s approval?
By Geogg Mulvihill and Steve LeBlanc, The Associated Press BOSTON — OxyContin maker Purdue Pharma has embarked on a multibillion-dollar plan to settle thousands of lawsuits over the nation’s deadly opioid crisis by transforming itself in bankruptcy court into a sort of hybrid between a business and a charity. Whether the company can pull it […]
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Purdue Pharma files for bankruptcy as part of settlement that Colorado’s attorney general thinks is inadequate
By Geoff Mulvill, The Associated Press Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids. The filing was anticipated before and after the […]