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Marketplace All-in-One

Travel on climate change’s schedule

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 11 August 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Thanks to upticks in extreme heat, wildfires, hurricanes and more, travelers are being extra choosy about where and when they vacation. Some are even planning travel to places that will soon be near-impossible to get to, thanks to climate change. Plus, an update on a Purdue Pharma settlement that would protect the Sackler family from civil suits, and a look at real estate troubles in China.

Transcript

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0:00.0

The Supreme Court says not so fast to a massive settlement over opioids.

0:08.0

From Marketplace, I'm Sabrina Schor in for David Brunkachio.

0:11.0

The Supreme Court has temporarily blocked a settlement with Purdue Pharma that would

0:15.8

protect the Sackler family, which owns Purdue, from being sued in civil court over opioid

0:21.4

damages.

0:22.4

Marketplace's Samantha Fields has more.

0:24.2

Hi Sam, so just to start to remind us about the settlement.

0:28.6

Yeah, so Sabrina, Purdue Pharma, the maker of OxyContin, filed for bankruptcy in 2019,

0:34.1

after being sued by thousands of people for its role in the opioid crisis.

0:38.6

It reached a deal last year that would allow it to restructure and emerge from bankruptcy

0:43.1

effectively as a new company that would use its profits to fight the opioid epidemic.

0:48.2

As part of the deal, members of the Sackler family, which owned Purdue, would put $6 billion

0:53.4

into a fund for people who have been hurt by the opioid crisis and for state and local

0:57.6

governments that are dealing with it, but they would also be protected from all future

1:01.9

lawsuits.

1:02.9

Hi, for example, family members of people who've died of opioid overdoses.

1:08.1

So why did the Supreme Court block this deal?

1:11.9

The Justice Department had objected to the settlement, particularly the part that would

1:15.6

shield the Sacklers from future liability.

1:18.2

The Supreme Court has now agreed to hear arguments later this year over whether the deal

1:22.4

can move forward.

1:24.0

The central question is whether US bankruptcy code allows people who are not personally

...

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