Source OxyContin maker seeks to resolve all lawsuits

COLUMBUS, Ohio — A settlement being pursued by the maker of OxyContin aims to resolve all claims against the company filed in both state and federal court.The proposal also provides a formula for dividing settlement money among states and local governments.A person familiar with the talks but not authorized to discuss them publicly tells The Associated Press the proposal is being floated by lawyers for Stamford, Connecticut-based Purdue Pharma and the controlling Sackler family. Purdue would enter a structured bankruptcy that would resolve all claims.They are negotiating with several state attorneys general and a lawyer representing local governments as part of a massive federal litigation in Cleveland.The settlement, if reached, would apply to the nearly 2,000 lawsuits in federal court and hundreds of other local government and state lawsuits.Geoff Mulvihill And Andrew Welsh-Huggins, The Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *