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Purdue Pharma seeks settlement approval

Purdue Pharma, the makers of OxyContin, is seeking bankruptcy court approval Tuesday regarding a settlement with the Justice Department that includes a guilty plea and $8 billion in penalties. “The proposed settlement with the Department of Justice should be approved because it fully resolves the United States’ criminal and civil investigations of the Debtors in a manner that is fair, equitable, and in the best interests of the estates,” Purdue Pharma’s attorney, Marshall Huebner, wrote in a court filing ahead of the hearing. Several states and a number of opioid victims oppose the settlement, however.

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