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The deal, hashed out over weeks of intense negotiations, raises the amount paid by the Sacklers by more than $1 billion. In exchange, the family members win immunity from civil opioid lawsuits.
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A federal judge has overturned a bankruptcy settlement worth more than $4 billion that granted immunity from opioid lawsuits to members of the family who owns the company that makes OxyContin.
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Judge Colleen McMahon was expected to halt work on the controversial settlement that would give immunity from opioid lawsuits to the Sackler family. Instead she allowed work on the plan to go ahead.
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A bankruptcy judge cleared a plan for final vote by creditors of Purdue Pharma, maker of OxyContin, that would release the Sacklers and their financial empire from liability for the opioid crisis.
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If the bankruptcy plan is approved, Florida could get up to $280 million to $400 million over a 10-year period.
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Under a bankruptcy plan filed late Monday, the OxyContin maker would pay $500 million up front, promising billions in future payments. Twenty-four states rejected the proposal.
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The bankruptcy follows the Sackler family, which owns Purdue, agreeing to surrender control of the company and offering $3 billion in cash to opioid-hit communities.
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OxyContin maker Purdue Pharma reached a tentative deal Wednesday with about half the states and thousands of local governments over its role in the...