Purdue Pharma has submitted a revised plan to settle numerous lawsuits related to the opioid crisis, asking a bankruptcy judge for approval. The plan stipulates that members of the Sackler family will contribute up to $7 billion while giving up control of the company. This revised settlement follows a tumultuous legal history and aims to create a new board directed by state governments to combat the opioid epidemic that has caused widespread devastation in the U.S. The plan also allows plaintiffs to choose whether to settle or pursue further legal action against the Sacklers.
Under the new settlement plan proposed by Purdue Pharma, the Sackler family would contribute up to $7 billion while relinquishing ownership of the company to address the opioid crisis.
This settlement aims to provide financial remedies for the lawsuits stemming from the opioid crisis linked to OxyContin, along with creating a board focused on combating this epidemic.
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