Settlement News

OxyContin Maker Purdue Pharma Files for Bankruptcy to Wipe Out 2,000 Lawsuits

Purdue Pharma LP filed for bankruptcy with a more than $10 billion plan to settle claims that it fueled the U.S. opioid epidemic by illegally pushing sales of its addictive OxyContin painkiller. The Chapter 11 filing on Sunday in White …

PG&E Settles Wildfire Claims with Insurers for $11 Billion

PG&E Corp said on Friday it has reached an $11 billion settlement to resolve most claims by insurance carriers related to 2017 and 2018 wildfires in California. It is the second major settlement of wildfire claims by PG&E, and requires …

Opioid Deal-Makers Cleared to Represent Cities Across U.S.

A judge approved a bid by U.S. cities and counties suing opioid makers such as Johnson & Johnson and Teva Pharmaceutical Industries Ltd. to negotiate a settlement as a group, in an effort to resolve the sweeping litigation over the …

Purdue Opioid Deal Pits State Against State on Epidemic Cost

Purdue Pharma LP, maker of the highly addictive Oxycontin painkiller, is pitting state against state with its offer of about $12 billion to resolve the company’s liability for the massive public-health crisis tied to opioid abuse that’s swept the U.S. …

Sacklers to Remain Billionaire Family If Purdue Settles Opioid Lawsuits

The Sackler family — once known as global philanthropists backed by a fortune made from opioids and other drugs — may lose most of their wealth if they agree to an $11.5 billion settlement to resolve lawsuits against them and …

Sackler Family Backs $11.5 Billion Purdue Opioid Settlement

The Sackler family and their embattled drugmaker, Purdue Pharma LP, are backing a proposal to resolve all opioid lawsuits against themselves and the company for more than $11 billion in what would be the largest settlement to date in the …

Opioid Fines Could Reach $150 Billion in Worst-Case Scenario

Monday’s $572 million judgment against Johnson & Johnson may mean one analyst’s “bear case scenario” of $150 billion in opioid damages just got one step closer. Patrick Trucchio, a Berenberg analyst, on Tuesday renewed his April projection for U.S. liabilities …

Facebook Users Revive Lawsuit Over Cambridge Analytica Scandal

Four Facebook Inc. users revived a lawsuit against the social media company, claiming it invaded their privacy and violated its terms of service by selling their data to Cambridge Analytica and more than 150 other companies. The amended complaint, filed …

Bayer Mediator Dismisses Report of $8 Billion Roundup Settlement

NEW YORK/FRANKFURT — Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as …

Equifax Agrees to Pay $700 Million to Settle U.S. Breach Probe

Equifax Inc. agreed to pay up to $700 million to resolve U.S. federal and state investigations into the 2017 hack that compromised some of the most sensitive information of more than 140 million people. “Companies that profit from personal information …