>The argument "We potentially screwed up so much that there would be so many people suing us that it would cause legal chaos. So as a result we should be granted full waivers of liability to avoid the lawsuits." Is so brazen as to be absurd.
But that's not what's happening? At least from my reading of the article, they settled with the state, that's it. The judge wasn't like "you're off the hook because the lawsuits were too complicated".
>The complex bankruptcy plan, confirmed by Drain at a hearing in White Plains, N.Y., was negotiated in a series of intense closed-door mediation sessions over the past two years.
>The deal grants "releases" from liability for harm caused by OxyContin and other opioids to the Sacklers, hundreds of their associates, as well as their remaining empire of companies and trusts.
It supports the claim that it was a settlement, rather than the judge letting them off the hook unilaterally. As part of any settlement, each side agrees not to engage in further litigation on the same matter, otherwise there's no point in settling. I also omitted the next sentence which states what they gave in exchange for the settlement.
>In return, they have agreed to pay roughly $4.3 billion, while also forfeiting ownership of Purdue Pharma.
Didn't they move a lot of their assets abroad? [1] I mean sure, $4.3 billion is a lot of money, but personally I feel like they should all be left with zero and a few of them should be in prison for a long time.
If it's the same agreement John Oliver talked about last week, they have 10 years to pay the $4.3 billion, so they'll almost earn it all back in that period in interest.
But that's not what's happening? At least from my reading of the article, they settled with the state, that's it. The judge wasn't like "you're off the hook because the lawsuits were too complicated".
>The complex bankruptcy plan, confirmed by Drain at a hearing in White Plains, N.Y., was negotiated in a series of intense closed-door mediation sessions over the past two years.
>The deal grants "releases" from liability for harm caused by OxyContin and other opioids to the Sacklers, hundreds of their associates, as well as their remaining empire of companies and trusts.