Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.
The transfers bolster allegations by New York and other states that the Sacklers worked to shield their wealth in recent years because of mounting worries about legal threats.
Purdue Pharma reached settlement on Wednesday with thousands of local governments and more than 20 states over crisis.
It is the first settlement to come out of the recent coast-to-coast wave of nearly 2,000 lawsuits against Purdue Pharma over allegations that they helped create the nation's deadly opioid crisis with aggressive marketing of the powerful painkiller.
A doctor who saw Prince in the days before he died prescribed oxycodone under the name of Prince's friend to protect the musician's privacy. Prince, whose full name was Prince Rogers Nelson, died at his home in suburban Minneapolis on April 21.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2020 TRT World.