A federal bankruptcy court judge on Friday said he would approve OxyContin-maker Purdue Pharma’s latest deal to settle thousands of lawsuits over the toll of opioids that includes some money for thousands of victims of the epidemic.
The deal overseen by US bankruptcy judge Sean Lane would require some of the multibillionaire members of the semi-reclusive Sackler family who own the company to contribute up to $7bn and give up ownership of the Connecticut-based firm.
The new agreement replaces one the US supreme court rejected last year, finding it would have improperly protected members of the family against future lawsuits. The judge said he would explain his decision in a hearing on Tuesday.
A captured justice system that has been corrupted by twisted, mutant late stage capitalism, mostly.
How do we know it’s late stage?
Because it’s economic philosophy concept, not necessarily a literal term. The German form of the term is about 100 years old refers to the form of capitalism that took root post-WWI; the English translation didn’t really take off until about 50 years ago and typically refers to capitalist forms that rose after WWII.
Because it can’t get any worse.
Spoiler Alert
It would.