Did the Sackler family take money out of Purdue Pharma for themselves to protect it from the company’s opioid crisis liabilities?

WAS THE BANKRUPTCY filing of Purdue Pharma a way the owners of the company, the Sackler family, could protect their personal fortunes from the effects of the more than 2,000 lawsuits that have been filed against the company and the Sacklers? / BLOOMBERG NEWS FILE PHOTO/GEORGE FREY
WAS THE BANKRUPTCY filing of Purdue Pharma a way the owners of the company, the Sackler family, could protect their personal fortunes from the effects of the more than 2,000 lawsuits that have been filed against the company and the Sacklers? / BLOOMBERG NEWS FILE PHOTO/GEORGE FREY

When Purdue Pharma LP filed for bankruptcy on Sept. 15, it was in no small measure to blunt the effects of the more then 2,000 lawsuits filed against the company and its owners, the Sackler family. As bankruptcy court looks to sort through the issues – including assets and liabilities – one looming question will be, how much money will the Sacklers have to pay from their own wealth to settle the suits? Did the money that they paid themselves over the last few years a way to shield it from what they expected would be a blizzard of lawsuits based on Purdue Pharma’s production and marketing of opioid pain killers?

Did the Sackler family take money out of Purdue Pharma for themselves to protect it from the company’s opioid crisis liabilities?

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