Sackler family may now face fresh Oxycontin lawsuits
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 9 July 2024
⏱️ 7 minutes
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Summary
After last month’s Supreme Court ruling, a judge weighs whether to allow new lawsuits against the Sackler family. Plus, waiting on word from Jerome Powell and the Fed, and what happens when an online DNA test kicks up complicated history.
Transcript
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| 0:00.0 | When gene testing reveals unexpected branches of the family tree, |
| 0:05.0 | I'm David Brancacho, |
| 0:08.0 | first, for the first time the family behind Oxyacontin could get sued, |
| 0:12.0 | given the opioid epidemic. |
| 0:14.5 | Creditors for the makers of OxyContin are asking a bankruptcy judge for permission to |
| 0:19.0 | sue members of the Sackler family, who, until a Supreme Court decision last month had been shielded. |
| 0:25.4 | The proposed settlement with bankrupt Purdue Pharma would have resolved thousands of |
| 0:29.3 | lawsuits over its marketing and sales of OxyContin. The deal was said to be worth about $10 billion, |
| 0:35.7 | six billion of which would come from members of the Sackler family, Purdue's owners. |
| 0:40.1 | In exchange, the Sacklers who have not declared bankruptcy themselves would have gained immunity from opioid-related lawsuits. |
| 0:48.0 | Last month, the Supreme Court ruled that the Bankruptcy Code does not allow for such immunity. Now for the first time the presiding |
| 0:54.7 | bankruptcy judge will decide whether to grant a standing committee that |
| 0:58.8 | represents produced creditors the power to sue the Sacklers, or that they plan to try and negotiate a new settlement first. |
| 1:05.7 | Sackler family members are alleged to have micromanaged produce activities and forced the company |
| 1:11.1 | to transfer billions of dollars in proceeds to family trusts and offshore accounts. |
| 1:16.0 | They have denied wrongdoing. |
| 1:18.0 | Representatives for Purdue Pharma and its creditors are scheduled to appear at a bankruptcy court hearing this afternoon. |
| 1:24.0 | I'm Novasaupho for Marketplace. |
| 1:26.0 | Arguably the most powerful single economic policymaker in the country briefs |
| 1:31.0 | lawmakers in Congress starting in just a few minutes Jerome |
| 1:34.0 | Powell has his finger on interest rates but the signs are conflicting when the |
| 1:38.2 | government counts up names on payrolls the labor market seems strong when the government contacts individual homes and asks |
... |
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