Purdue Pharma is reportedly nearing a new bankruptcy settlement involving the Sackler family and various state and local governments. Mediator Shelley Chapman indicated that substantial progress has been made in resolving lawsuits linked to the opioid crisis, with Judge Sean Lane agreeing to extend the pause on litigation until December 2 to foster ongoing settlement discussions. The previous bankruptcy plan was disrupted by a Supreme Court ruling that prevented legal protections for the Sacklers, who are accused of contributing to the opioid epidemic through misleading marketing practices. If mediation fails, there is potential for a court-appointed committee to pursue claims against the Sacklers regarding financial misconduct associated with Purdue’s operations.
