Purdue Pharma Gets Court Approval For $8B Deal With Feds

Law360 (November 17, 2020, 11:24 PM EST) -- A New York bankruptcy Judge on Tuesday approved Purdue Pharma's $8 billion settlement of federal felony charges stemming from its OxyContin sales and said Purdue's former owning family can pay $225 million in fines without violating court orders.

Over the course of a more than 7½-hour hearing, U.S. Bankruptcy Judge Robert Drain approved Purdue's settlement, gave the Sackler family the go-ahead to pay the penalties they had agreed to and said the parties in the Chapter 11 case should use the settlements to move forward on a bankruptcy plan before December's omnibus hearing in the case.

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