Examiner Clears Sacklers Of Influencing Purdue's Board

By Vince Sullivan (July 20, 2021, 4:25 PM EDT) -- An examiner appointed in the Chapter 11 case of drugmaker Purdue Pharma LP told a New York bankruptcy court late Monday that the company's board acted independently of the Sackler family when it proposed a $4.5 billion settlement with the owners that forms the basis of its bankruptcy plan.

In the report, Stephen Lerner of Squire Patton Boggs LLP said he had uncovered no evidence that the Sackler family exerted any influence on the board or its special committee after Purdue filed its Chapter 11 petitions in September 2019 and that the bankruptcy plan now on file contains a settlement reached...

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