In December a federal judge rejected a Purdue Pharma Bankruptcy settlement because the Sacklers, individuals who own Purdue, insisted on immunity from being sued for their alleged liabilities in the Opioid Crisis.
Now the Sacklers have somehow come up with another $1Billion to put into the pot while they still insist on immunity. It is rare for individual owners of bankrupt companies to be given immunity even as the bankrupt companies are given immunity. It is the companies that are in bankruptcy, after all; here it is Purdue, not the Sacklers, that are in Bankruptcy. Yet the Sacklers insist on the Bankruptcy Court giving them immunity. See Jan Hoffman, Sacklers Raise Their Offer to Settle Opioid Lawsuits by More Than $1 Billion / But they continue to insist on protection from civil liability claims over opioids, an unusual and controversial measure that derailed a previous deal, NEW YORK TIMES, posted online Friday, February 18, 2022.
Cynical rich people. Buying immunity. Throw another $1Billion at them, that will make them give you immunity.
Here's a solution. The Purdue Bankruptcy litigation has an automatic stay of all lawsuits until March 3. Let it expire. Then sue their Sacklers off.
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