Protesters gathered outside the courthouse, holding banners while expressing their grievances. P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm organized a rally and die-in outside New York’s Southern District Federal Court located in White Plains.
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The Supreme Court temporarily halted a $6 billion bankruptcy settlement initiated by Purdue Pharma. The settlement aimed to shield the Sackler family, the owners of Purdue Pharma, from civil lawsuits related to the opioid crisis.
Furthermore, the Supreme Court agreed to examine a challenge to the settlement presented by Purdue, the pharmaceutical company responsible for manufacturing OxyContin.
In its order issued on Thursday, the Supreme Court requested the concerned parties to submit briefs addressing the question of whether bankruptcy courts can authorize a Chapter 11 reorganization that absolves non-debtors from claims against third parties who aren’t debtors, all without obtaining the claimants’ consent.
In May, Purdue Pharma arrived at a settlement agreement with numerous U.S. states and local governments, potentially amounting to over $10 billion.
As part of the settlement, the Sackler family consented to surrender their control over the company, headquartered in Stamford, Connecticut.
The Supreme Court is scheduled to hear the case before the year concludes.
The stay on the settlement will be lifted upon the court’s verdict.
This is currently a developing story. Please check back for updates.
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