Fifteen States Secure $7.4 Billion Settlement in Purdue Pharma Opioid Case After Supreme Court Ruling

In a significant development, attorneys general from 15 states have announced a new $7.4 billion opioid settlement with Purdue Pharma and its founding Sackler family. This agreement follows a recent ruling by the U.S. Supreme Court that invalidated previous non-consensual releases. The revised settlement requires approval from the U.S. Bankruptcy Court in the Southern District of New York, where Purdue filed for Chapter 11 in 2019. Under the terms of the agreement, the Sackler family is set to contribute up to $6.5 billion over a 15-year period, while Purdue will provide an additional $900 million. This settlement marks another chapter in the ongoing legal actions relating to Purdue Pharma’s role in the opioid crisis. Further details on the settlement can be accessed here.