Prognosis
Purdue Pharma Narrows Protection for Sacklers During Trial
- Bankruptcy plan modified to define protection from lawsuits
- Lawyers for company, objectors trade barbs at hearing
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Lawyers for Purdue Pharma LP, seeking to soothe concerns of a bankruptcy judge, narrowed the legal protections for the Sackler family included in the drugmaker’s proposed settlement of trillions of dollars in opioid claims.
The pharmaceutical company updated bankruptcy plan documents to shrink, and more clearly define, the legal insulation from future lawsuits that would be granted to certain members of the Sackler family, entities they’ve given money to and advisers to the company, a lawyer for Purdue said in court on Monday.