Reported 1 day ago
Purdue Pharma has requested additional time to garner support for a new $7.4 billion settlement aimed at resolving numerous lawsuits related to its opioid product, OxyContin. During a court hearing, Purdue's attorney indicated that while they are close to finalizing the deal, further negotiations with states, local governments, and creditors are necessary. The bankruptcy judge overseeing the case granted a pause to ongoing lawsuits against the Sackler family until the end of February, allowing Purdue to continue working on the settlement that could potentially conclude its long-standing bankruptcy process initiated in 2019.
Source: YAHOO