This year, about $1.5 billion has landed in state and local government coffers from court settlements made with more than a dozen companies that manufactured, sold, or distributed prescription painkillers and were sued for ...
Dec 30, 2023
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The US Supreme Court appeared divided on Monday as it heard a challenge to Purdue Pharma's $6 billion opioids settlement immunizing the Sackler family that controlled the drugmaker from future litigation.
Dec 4, 2023
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US pharmacy chain Rite Aid filed for bankruptcy Sunday, the company said, after suffering declining sales and legal threats over its alleged involvement in the opioid crisis.
Oct 16, 2023
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The US Supreme Court threw Purdue Pharma's $6 billion opioids settlement into question Thursday, accepting a challenge to the deal's immunizing the Sackler family, which controlled the drugmaker, from future litigation.
Aug 11, 2023
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US pharmaceutical giant Johnson & Johnson on Tuesday proposed an $8.9 billion settlement to resolve years-old lawsuits claiming that its talcum powder products caused cancer.
Apr 5, 2023
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The Sackler family will pay up to $6 billion to address damage linked to the US opioid crisis under an amended Purdue Pharma bankruptcy plan following an agreement with holdout states, according to a court filing Thursday.
Mar 3, 2022
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The owners of Purdue Pharma, maker of OxyContin, have offered to pay up to $6 billion to victims of the US opioid crisis to settle an avalanche of litigation, according to a report filed Friday by a federal mediator.
Feb 20, 2022
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As the COVID-19 pandemic continues to put lives and livelihoods at risk, 1 in 2 Americans say they fear a major health event could lead them to file for bankruptcy, marking a 5% increase since 2019. The new research comes ...
Sep 1, 2020
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The European Union will reopen its borders to a select list of "safe countries" to be confirmed Tuesday, as the WHO warned the pandemic is still accelerating with more than 500,000 deaths worldwide.
Jun 30, 2020
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On March 23, 2010, President Barack Obama signed the Affordable Care Act (ACA) into law with a stated goal of addressing the "crushing cost of health care… a cost that now causes a bankruptcy in America every 30 seconds."
May 1, 2020
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Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
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