In order to receive benefits from the settlement, Class Members must file a valid claim form online or through the mail by June 20, 2020. Class Members should include proof of any damages or injuries. Who’s Eligible
Full Answer
Why is Purdue Pharma being sued?
“Purdue Pharma and Dr [Richard] Sackler started the fire and then poured gasoline on the opioid crisis with practices that were irresponsible, unconscionable and unlawful.” The lawsuit alleges that Purdue falsely marketed its powerful narcotic as a safe and effective treatment for chronic pain despite contradictory evidence.
How much will individual lawsuits get from Perdue Pharma?
Individuals who filed claims over opioid addiction or overdose deaths against OxyContin maker Purdue Pharma LP are projected to receive as much as $48,000 under the company’s bankruptcy plan.
Why did Purdue Pharma file for bankruptcy?
US drug-maker Purdue Pharma has filed for bankruptcy protection, as part of efforts to deal with thousands of lawsuits that accuse the firm of fuelling the US opioid crisis. The company's board approved the Chapter 11 filing on Sunday.
Who are the parties of the Purdue Pharma settlement?
OxyContin maker Purdue Pharma reached a settlement Thursday over its role in the nation’s deadly opioid crisis that includes U.S. states and thousands of local governments, with the Sackler family members who own the company boosting their cash contribution to as much as $6 billion. The deal follows an earlier settlement that had been appealed by eight states and the District of Columbia.
How much money will I get from Purdue Pharma lawsuit?
Under the new settlement, the Sacklers will pay between $5.5 and $6 billion to a trust that will be used to pay the claims of opioid creditors, including states, victims of addiction, hospitals, and municipalities.
Who gets the money from Purdue Pharma lawsuit?
2 The money will be distributed to the states who have signed onto the agreement. A portion of the funds in the settlement are designated to be directed towards health care and drug treatment programs; however, the details of allocation are up to each individual state.
What is the latest news on the Purdue Pharma lawsuit?
The latest settlement agreement includes a provision that the Sackler family gives up all ownership of Purdue Pharma. It will allow the company to move forward with its reorganization plan and rebrand to Knoa Pharma. A majority of the new company's profits will be used to lessen the ongoing crisis.
Is it too late to file a claim against Purdue Pharma?
Individuals who have not yet filed a claim against Purdue Pharma are encouraged to do so. All claims must be filed by July 30, 2020 at 5 p.m. to be considered valid. If you or a loved one were one of millions affected by the opioid crisis, learn more about filing a claim.
How can I spend my opioid settlement money?
Principles for the Use of Funds from the Opioid Litigation (PDF)Spend money to save lives.Use evidence to guide spending.Invest in youth and family prevention.Focus on racial equity.Develop a fair and transparent process for deciding where to spend the funding.
Where is Richard Sackler now?
Most of the Sacklers prefer to stay out of the public light. Richard now resides in Florida.
Do the Sacklers still have money?
There are two key differences between the the latest Purdue settlement and the previous one struck last year: The Sacklers' cash contribution has gone up by at least $1.2 billion, and the attorneys general for all 50 states and the District of Columbia have now agreed.
Where is Richard Sackler now?
Most of the Sacklers prefer to stay out of the public light. Richard now resides in Florida.
Does the Sackler family still own Purdue?
The Sacklers will lose control of Purdue Pharma, which will be organized into a new company named Knoa Pharma with a board appointed by public officials.
Where was the Purdue bankruptcy hearing held?
Demonstrators scatter fake money and prescription bottles of OxyContin in August outside of U.S. Bankruptcy Court in White Plains, where the Purdue bankruptcy hearings were held.
How much does Lahav pay for a death?
Lahav says she sympathizes with individuals who call the settlement unfair. That maximum payment for a death, in the range of $40,000, is a fraction of what other drugmakers have paid to settle lawsuits, according to attorneys who review such cases.
What bothers Hampton and Wencus about the settlement?
Hampton and Wencus say a lot of what bothers them about the settlement seems rooted in discrimination.
Will opioid victims get a settlement?
Opioid Victims Will Get Small Payouts From The Pur due Pharma Settlement People who were addicted to OxyContin or lost loved ones who were addicted to the drug expect very little in compensation from the multibillion-dollar Purdue Pharma bankruptcy settlement.
How much is the Purdue settlement worth?
The company says its settlement plan could be worth $10 billion over time, including the payments to victims. The deal's value also includes the value of drugs Purdue is currently developing to reverse overdoses and inhibit addiction.
When is Purdue Pharma bankruptcy?
Above, Jayde Newton helps to set up cardboard gravestones with the names of victims of opioid abuse outside the courthouse where the Purdue Pharma bankruptcy is taking place in White Plains, New York, on August 9, 2021. AP/Seth Wenig
What happens if the Sackler family doesn't receive protection from lawsuits?
Sackler family members have been adamant that if they don't receive protection from lawsuits, they would not participate in the settlement and would instead mount a vigorous defense to any claims they face. One, David Sackler, a grandson of one of the three brothers who nearly 70 years ago bought the company that became Purdue, made a declaration in court and could be called to testify on it in the hearing.
