Tag: us bankruptcy court for the southern district of new york

Ashley Moody: Efforts Cracking Down on Opioids Will Get Billions From Purdue Pharma Bankruptcy...

Purdue Pharma filed its bankruptcy plan worth approximately $7 billion that will place the full value of the company into a trust set up to allocate the funds toward opioid abatement efforts nationwide. More than $4.275 billion of the $7 billion represented in the plan will come from the Sackler family, who will also lose their entire stake in the company as part of the terms—effectively removing them from any involvement in U.S. opioid sales.