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Seminar/CLE
|July 18, 2024
Public Company Priorities Breakfast or Lunch Program
Client Alert
|July 1, 2024
|8 Min Read
The Supreme Court announced a major restriction on a common practice for Chapter 11 bankruptcy reorganization plans, sending a multi-billion-dollar settlement involving the Purdue Pharma opioid litigation back to the drawing board. In Harrington v. Purdue Pharma L.P., the high court held that the bankruptcy court could not enter a release benefitting the Sackler family, who were accused of funneling $11 billion from the now-bankrupt Purdue Pharma but had not themselves filed bankruptcy petitions. The plan would have released the Sacklers in exchange for contributing up to $6 billion to pay opioid-related claims against them and Purdue Pharma in connection with OxyContin addiction.
In the Media
|June 28, 2024
|2 Min Read
Bill O’Neil Named Chicago Office Managing Partner
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