Purdue Pharma
American pharmaceutical company
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| June 27 2024 | The Supreme Court ruled 5-4 in Harrington v. Purdue Pharma L.P. to overturn the settlement, deciding the proposed settlement was illegal as the Bankruptcy Code does not permit liability relief for non-bankrupt parties, and remanded the case to the lower court for further review. |
| June 27 2024 | Supreme Court Justice Neil Gorsuch, joined by Justices Thomas, Alito, Barrett, and Jackson, overturned the bankruptcy settlement for Purdue Pharma, ruling against the non-consensual third-party release and injunction of the Sackler family from criminal liability. |
| December 4 2023 | Oral arguments for the Harrington v. Purdue Pharma L.P. case were heard by the Supreme Court, examining the controversial bankruptcy settlement and third-party releases. |
| December 3 2023 | Supreme Court oral arguments were heard in the Harrington v. Purdue Pharma L.P. case. Key arguments focused on the legality of non-consensual third-party releases in bankruptcy, with representatives from the Federal Government, Unsecured Creditors Committee, and Purdue Pharma presenting their perspectives on Section 1123(b)(6) of the Bankruptcy Code. |
| August 10 2023 | The Supreme Court granted a stay on the lower court's decision and granted certiorari regarding the Purdue Pharma bankruptcy settlement, signaling a critical review of the unprecedented agreement that would protect the Sackler family from opioid-related civil claims. |
| May 2023 | The U.S. Second Circuit Court of Appeals in New York endorsed the $6 billion settlement, with the Sackler family giving up ownership of Purdue and all profits to be sent to a fund for opioid addiction prevention and treatment. |
| 2022 | Purdue Pharma's bankruptcy settlement was initially proposed, attempting to include a controversial provision releasing the Sackler family from future opioid-related litigation. |
| March 2022 | U.S. bankruptcy judge Robert Drain approved a settlement involving eight states plus the District of Columbia, requiring the Sacklers to pay between $5.5 and $6 billion to a trust for opioid creditors, while shielding them from personal civil liability. |
| 2021 | McKinsey reaches a settlement with 47 state attorneys general, the District of Columbia, and five territories, paying $537 million and agreeing to discontinue work with certain narcotics manufacturers. |
| December 2021 | Judge Colleen McMahon of the U.S. District Court for the Southern District of New York overturned the September settlement, ruling that the bankruptcy code did not permit releasing the Sacklers from civil liability. |
| September 2021 | Purdue Pharma won approval of a $4.5 billion restructuring plan to dissolve the company and create a public benefit corporation, with a settlement financed by the Sackler family, insurance payments, and ongoing business operations. |
| September 2021 | Purdue Pharma announced it would rebrand itself as Knoa Pharma. |
| August 2021 | US Representatives Carolyn Maloney and Mark DeSaulnier introduced the SACKLER Act to prevent non-bankrupt individuals from being released from lawsuits related to the opioid crisis, targeting the Sackler family's legal strategy. |
| March 2021 | The United States House of Representatives introduced a bill to prevent bankruptcy judge from granting the Sackler family legal immunity during bankruptcy proceedings. |
| October 2020 | Purdue Pharma agreed to an $8 billion settlement, including $2 billion criminal forfeiture, a $3.54 billion criminal fine, and $2.8 billion in civil damages. The company would plead guilty to three criminal charges and become a public benefit company under a trust focused on American public health. |
| October 21 2020 | Purdue reached a settlement potentially worth US$8.3 billion, admitting to knowingly conspiring to aid and abet doctors in dispensing medication without legitimate medical purpose. The Sackler family agreed to pay an additional US$225 million. |
| 2019 | Massachusetts Attorney General Maura Healey filed a lawsuit against Purdue Pharma, alleging that eight Sackler family members were personally responsible for deceptive sales practices and had 'micromanaged' a misleading sales campaign for OxyContin. |
| 2019 | Over 1,000 lawsuits were initiated against Purdue Pharma by state and local governments across the United States, with claims totaling more than $2 trillion in the company's bankruptcy case. |
| 2019 | Senators Sheldon Whitehouse and Maggie Hassan requested the Justice Department provide a copy of the Ogrosky memo, alleging that Purdue Pharma executives may have lied to Congress about their knowledge of OxyContin abuse and diversion before 2000. |
| 2019 | The Sackler family departed from the Purdue Pharma board, leaving a board of five members. |
| 2019 | The Department of Justice brought criminal and civil charges against Purdue Pharma for allegedly defrauding the United States and violating federal kick-back statutes. |
| 2019 | Purdue Pharma filed for Chapter 11 bankruptcy, seeking an injunctive stay on all lawsuits against the company and the Sackler family. |
| December 2019 | An audit by AlixPartners revealed that the Sacklers withdrew $10.7 billion from Purdue after the company began receiving legal scrutiny. |
| September 2019 | The New York Attorney General's office accused the Sackler family of hiding money by transferring at least $1 billion from company accounts to personal overseas accounts. |
| September 15 2019 | Purdue Pharma filed for Chapter 11 bankruptcy protection in New York City. |
| August 2019 | Purdue Pharma and the Sackler family entered negotiations for a settlement of $10-$12 billion, which would involve a Chapter 11 bankruptcy filing, restructuring the company as a public beneficiary trust, and the Sacklers giving up company ownership. |
| March 2019 | Purdue Pharma settled a lawsuit with Oklahoma for $270 million, with the state alleging that the company's opioids had contributed to thousands of deaths |
| January 2019 | The number of states suing Purdue Pharma escalated to 36, expanding from the initial six-state lawsuit filed in May 2018. |
| July 2018 | Steve Miller became chairman of Purdue Pharma. |
| May 2018 | Six states (Florida, Nevada, North Carolina, North Dakota, Tennessee, and Texas) filed lawsuits against Purdue Pharma, charging the company with deceptive marketing practices related to Oxycontin. |
| May 2018 | A confidential Justice Department report was revealed, showing Purdue was aware of pill abuse methods including crushing, snorting, pharmacy theft, and doctors selling prescriptions, with over 100 internal memos from 1997-1999 referencing 'street value', 'crush', or 'snort'. |
| 2017 | McKinsey presents a controversial proposal to Sackler family members suggesting Purdue pay pharmaceutical distributors rebates for each overdose attributed to their distributed pills. |
| June 22 2017 | Craig Landau was appointed CEO of Purdue Pharma. |
| 2013 | Craig Landau was appointed president and CEO of Purdue Pharma (Canada). |
| 2012 | The New England Journal of Medicine published a study revealing that 76 percent of heroin addiction cases originated from pharmaceutical narcotic abuse, primarily OxyContin, directly linking Purdue's marketing practices to the U.S. heroin epidemic. |
This contents of the box above is based on material from the Wikipedia articles Harrington v. Purdue Pharma L.P. & Purdue Pharma, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.