{"id":1587,"date":"2025-01-24T20:36:21","date_gmt":"2025-01-24T20:36:21","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/sacklers-up-their-offer-to-settle-purdue-opioids-cases-with-a-new-condition\/"},"modified":"2025-01-24T20:36:21","modified_gmt":"2025-01-24T20:36:21","slug":"sacklers-up-their-offer-to-settle-purdue-opioids-cases-with-a-new-condition","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/sacklers-up-their-offer-to-settle-purdue-opioids-cases-with-a-new-condition\/","title":{"rendered":"Sacklers Up Their Offer to Settle Purdue Opioids Cases, With a New Condition"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Seven months after the Supreme Court struck down a deal that would have resolved thousands of opioid cases against Purdue Pharma, the company\u2019s owners, members of the Sackler family, have increased their cash offer to settle the litigation \u2014 but with a novel catch.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Under the framework for a new deal, the Sacklers would not receive immunity from future opioid lawsuits, a condition that they had long insisted upon but that the court ruled was impermissible.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Instead, they would pay up to $6.5 billion \u2014 $500 million more than the previous agreement \u2014 but with a new condition: Claimants, including states, municipalities and individuals, would have to set aside as much as $800 million in an account akin to a legal-defense fund for the billionaires to fight such cases, according to people familiar with the negotiations.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Some details of the framework \u2014 but not the legal-defense fund \u2014 were announced on Thursday by the New York attorney general, Letitia James. She said the overall settlement totaled $7.4 billion, which would include $897 million from Purdue.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">New York could receive as much as $250 million, she said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cThe Sackler family relentlessly pursued profit at the expense of vulnerable patients and played a critical role in starting and fueling the opioid epidemic,\u201d Ms. James said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Echoing other settlements in nationwide opioid litigation, these payments are intended to fund efforts to prevent and treat addiction in hard-hit communities across the country.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe are extremely pleased that a new agreement has been reached that will deliver billions of dollars to compensate victims, abate the opioid crisis, and deliver treatment and overdose rescue medicines that will save lives,\u201d Purdue said in a statement, noting that a reorganization plan was still in the works.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Sacklers did not respond to requests for comment.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">How many claimants will agree to the new terms is unclear. Ms. James noted that 14 other states involved in talks were on board: Florida, Connecticut, Massachusetts, Tennessee, California, Colorado, Illinois, Delaware, Pennsylvania, Oregon, Texas, Vermont, Virginia and West Virginia.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But the deal has to now be sold to all the claimants \u2014 not only the remaining states and thousands of local governments, but to hundreds of Native American tribes and some 140,000 personal injury victims.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Though many of those accepting the deal find the reserve fund for the Sacklers a difficult pill to swallow, the reality is that despite the long years of<span class=\"css-8l6xbc evw5hdy0\">  <\/span>the Purdue litigation, not a dollar has yet been sent to claimants, hurting from the immediate and ongoing harms of the opioid crisis. In recent months, there has been an urgency to getting a fresh deal done so the money can finally start flowing. Under the latest terms, those who object to the deal are at liberty to build new cases against the Sacklers. Under the former settlement, they were barred from doing so.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In fact the reserve legal fund for the Sacklers could be depleted swiftly: Already, lawsuits against the Sacklers have been threatened by a handful of states, counties, cities and individuals.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">A spokesman for Washington State, which has successfully pursued other pharmaceutical companies rather than sign onto national deals, said the state was weighing its options.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The states, which are responsible for the bulk of the payments to the reserve fund, would have to keep a minimum of $200 million in the account, with total contributions capped at $800 million. After five years, unused funds would start reverting back to the states.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Final calculations for how much of the total Purdue deal would be deducted to pay lawyers, consultants and administration fees are still under discussion.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Sacklers would pay nearly $3 billion in the first three years, with remaining payments over an additional 12 years.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">If the plan is approved by claimants and confirmed by a federal bankruptcy judge, Purdue would emerge by the end of this year from the bankruptcy that has shielded it since 2019. It would immediately pay the $897 million of its own cash to the parties who signed on to the deal.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">At that point, 15 years of Sackler payments would also commence. And most of the lawsuits that began more than a decade ago \u2014 eventually morphing into an ungainly combined litigation brought by cities, states, tribes, hospitals and individual victims, and argued by countless teams of lawyers \u2014 would, presumably, end.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In the plan rejected by the Supreme Court, the Sacklers, long portrayed across films, television and news articles as the public face of predatory opioid manufacturers, demanded a guarantee for putting up $6 billion: a prohibition against any current and future lawsuits against them related to Purdue and opioids.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-5\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Purdue itself gets that protection as a standard benefit conferred when a company comes out of bankruptcy. But because the Sacklers did not personally file for bankruptcy, the Supreme Court ruled in June that granting them permanent civil immunity was outside the purview of bankruptcy law.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The intention of the legal reserve fund, in which, essentially, claimants will be paying to defend the Sacklers against other claimants, is to satisfy the court\u2019s ruling.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIf states are expected to contribute funds to the Sacklers\u2019 legal defense, claimants and the public will want to hear more about the impact of that money going to the Sacklers and their lawyers rather than to opioid abatement,\u201d said <a class=\"css-yywogo\" href=\"https:\/\/law.unc.edu\/people\/melissa-b-jacoby\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">Melissa B. Jacoby<\/a>, a bankruptcy expert at the University of North Carolina School of Law.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/01\/23\/health\/sacklers-purdue-settlement-opioids.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seven months after the Supreme Court struck down a deal that would have resolved thousands of opioid cases against Purdue<\/p>\n","protected":false},"author":1,"featured_media":1588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-1587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sacklers Up Their Offer to Settle Purdue Opioids Cases, With a New Condition - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/sacklers-up-their-offer-to-settle-purdue-opioids-cases-with-a-new-condition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sacklers Up Their 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