World News: 17:33 GMT Wednesday 11th September 2019. [Yahoo Business News Feed via SPi World News]
OxyContin maker Purdue Pharma LP is nearing a partial agreement to resolve widespread litigation over its alleged role in fueling the U.S. opioid crisis and plans to tussle with states opposing its settlement offer in bankruptcy proceedings starting as soon as next week, people familiar with the matter said. Late on Tuesday, lead lawyers representing more than 2,000 cities, counties and other plaintiffs suing Purdue, along with more than two dozen states and U.S. territories, were close to agreeing on an offer from the company and its controlling Sackler family to settle lawsuits in a deal valued at up to $12 billion, the people said. More than a dozen other states remain opposed or uncommitted to the deal, setting the stage for a legal battle over Purdue's efforts to contain the litigation in bankruptcy court, they said.
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