OxyContin maker Purdue Pharma LP will ask a U.S. Bankruptcy Judge on Friday to p...
- OxyContin maker Purdue Pharma LP will ask a U.S. Bankruptcy Judge on Friday to pause litigation against the company and its owners over the objections of U.S. states that allege the company is trying to protect the controlling Sackler family.
Privately-held Purdue said last month it needed to pause more than 2,600 lawsuits so the company can reduce legal costs and try to win over more plaintiffs to its proposed deal. Massachusetts Attorney General Maura Healey, a settlement opponent, has accused Purdue of protecting the billionaire Sacklers.
At a Thursday court hearing, a lawyer for Purdue challenged that characterization and said it covered a period dating back to 1995, and was disclosed to plaintiffs a year ago. “The $12 billion figure is in fact not new at all,” said Marshall Huebner, a Davis Polk & Wardwell lawyer who represents Purdue.
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