Purdue Pharma, the embattled maker of the drug OxyContin, finds itself close to settling some of the thousands of lawsuits filed against it for the company's role in fueling the ongoing opioid epidemic.
The settlement forces the Sackler family to give up control of the Stamford, Connecticut-based business, according to the Associated Press, while the company will pay up to $12 billion over time.
Arizona Attorney General Mark Brnovic stated that the deal was the fastest way to help communities hit hard by the crisis while also increasing the payout initially offered by the defendant.
The pharmaceutical giant had been facing lawsuits from thousands of state, local, and Native American tribal governments. About 2,000 governments have agreed to the tentative deal, but about half of the states have not signed on.
"The families who were hurt by Purdue and the Sacklers have spoken loud and clear that this case demands real accountability, and I will continue to fight for that," Massachusetts Attorney General Maura Healey, who did not agree to the terms, wrote in a statement according to WBUR. “It’s critical that all the facts come out about what this company and its executives and directors did, that they apologize for the harm they caused, and that no one profits from breaking the law."
New Jersey Attorney General Gurbir Grewal also refrained from endorsing the settlement saying on Twitter, “New Jersey will continue to pursue all available legal options against those responsible. And if Purdue cannot pay for the harm it inflicted, the Sacklers will.”
The potential settlement comes two weeks after Johnson & Johnson was ordered to pay Oklahoma $572 million for its part in spreading addictive painkillers, a landmark first court decision during the opioid crisis that still fell short of the $17.2 billion the state was pursuing.
In March, Purdue and the Sacklers settled with the Sooner State for $272 million to pay for treatment, addiction research, and the state's legal fees.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
Hear from Gabino & Stephen Roche on Saphyre’s institutional AI platform that centralizes pre‑ and post‑trade data, redefining settlement speed and accuracy.
Elon Musk’s X has reached a tentative settlement with former employees of the company then known as Twitter who’d sued for $500 million in severance pay.
