September 30, 2020
A New York bankruptcy judge on Wednesday gave Purdue Pharma another five months free from opioid suits and permission to make $26 million in employee retention payments after being told claim distribution mediation between the drugmaker and its creditors is bearing fruit.
September 22, 2020
The Office of the United States Trustee objected Tuesday to a proposed $45 million Chapter 11 bonus plan from bankrupt painkiller maker Purdue Pharma, saying the company has already been approved to pay $38 million in retention and incentive bonuses to employees and the new plan doesn't contain meaningful benchmarks.
September 21, 2020
A handful of U.S. senators urged a New York bankruptcy judge Monday to reject a compensation proposal that could see Purdue Pharma CEO Craig Landau pocket a bonus of up to $3.5 million, calling the possibility an "affront" to victims of the opioid crisis.
September 17, 2020
Purdue Pharma LP is asking a New York bankruptcy court to extend the injunction blocking thousands of suits against it over its role in the opioid crisis until March, saying that allowing the stay to expire in October would scuttle the progress it's made in its reorganization efforts.
August 26, 2020
Purdue Pharma told a New York bankruptcy judge Wednesday that the NAACP will get its seat at the table in the mediation to determine how the assets of the bankrupt drugmaker will be distributed to victims of the opioid crisis.
August 18, 2020
New York and 48 other states on Monday told a bankruptcy court that Purdue Pharma LP and its former owners the Sackler family have caused almost $2.16 trillion in damage to the U.S. after two decades of pushing opioids.
August 07, 2020
The NAACP on Friday asked a New York bankruptcy judge for a seat at the table in the Purdue Pharma Chapter 11, saying it needs to ensure a fair share of the proceeds of the case's opioid settlement goes to communities of color.
July 23, 2020
A New York bankruptcy judge Thursday agreed to adjourn a request to allow five new classes of alleged opioid victims to file claims in Purdue Pharma's Chapter 11 until after claim mediation ends, saying an agreement there would mean he wouldn't have to rule.
July 16, 2020
Purdue Pharma asked a New York bankruptcy judge Thursday to reject requests to allow five claims by classes of alleged opioid victims in its Chapter 11 case, saying adding new classes would be an unnecessary, last-minute complication.
June 23, 2020
A New York bankruptcy judge gave Purdue Pharma permission Tuesday to invest $6.5 million in a company working on an over-the-counter opioid-overdose drug, saying that keeping the development effort going was an appropriate use of the opioid-maker's money.