Judge set to rule on Purdue Pharma's opioid settlement plan
By GEOFF MULVIHILL Associated Press
A U.S. bankruptcy judge is expected to rule Wednesday on a plan for OxyContin maker Purdue Pharma to settle thousands of lawsuits brought by state and local governments and others over its role in the nation's opioids crisis.
The deal could be worth $10 billion, with cash coming from members of the Sackler family who own the company.
Under the deal, the Sacklers would give up ownership of the company and get protection from lawsuits over opioids.
Purdue would be remade into a new company with profits being used to pay some victims and fund drug treatment, education and other measures to fight the opioid epidemic.