BREAKING: Justice Department officials tell The Associated Press that Purdue Pharma, the company that makes OxyContin, will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion.
NEW: Purdue Pharma, the maker of OxyContin, is pleading guilty to three federal charges, including conspiracy to defraud the U.S. & has agreed to a more than $8 billion settlement. It doesn’t release the Sacklers or any employees from criminal liability.
The AP has details of the Purdue settlement, which will be formally announced in half an hour. Lots to unpack here, but two things for now. (1/3)
. tells that Purdue will plead guilty to 3 fed criminal counts as part of $8 billion settlement. Deal does NOT release any Purdue execs or Sackler-family owners from possible crim liability. More details soon in DOJ press conference
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“The deal does not release any of the company’s executives or owners — members of the wealthy Sackler family — from criminal liability. A criminal investigation is ongoing.”