Law Scholar Anthony Casey’s Insights Crucial in Major Supreme Court Decision on Purdue Pharma Settlement
Chicago — In a landmark case, the U.S. Supreme Court recently ruled on a highly contentious bankruptcy settlement involving Purdue Pharma L.P., the maker of OxyContin, and its $6 billion proposal intended to resolve lawsuits spurred by the opioid crisis. At the heart of this legal battle was a key paragraph in the Bankruptcy Code, pivotal in determining how the courts could use bankruptcy to address mass-tort claims both swiftly and equitably. Purdue Pharma, under the ownership of the Sackler family, touched off a legal and moral storm with a proposal that included a condition … Read more