Purdue To Settle Thousands Of Opioid Suits, File Bankruptcy

Law360 (September 11, 2019, 4:21 PM EDT) -- Purdue Pharma LP and its owners, the Sackler family, have reached a tentative deal to settle roughly 2,000 opioid suits brought by local governments, states and tribes, with the Sacklers agreeing to pay $3 billion from their own fortune, a source involved with the negotiations told Law360 on Wednesday.

Purdue Pharma is expected to file for Chapter 11 protection as part of a deal to settle roughly 2,000 opioid suits. (AP)

Purdue is expected to file for Chapter 11 protection as part of the deal, according to the attorney, who is familiar with the matter. The company will be restructured as...

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