|
 More than 95% of the 120,000-plus votes submitted were in favor of
the plan, Purdue said, citing preliminary voting results.
Purdue expects to release the final voting results by Aug. 2, but
added that it does not expect any material changes.
Purdue's plan aims to resolve some 3,000 lawsuits brought by U.S.
communities alleging that Purdue and its wealthy Sackler family
owners contributed to the opioid crisis that has claimed the lives
of roughly 500,000 people since 1999, according to the U.S. Centers
for Disease Control and Prevention.
The Stamford, Connecticut-based company and family members have
denied the allegations in the litigation.
Earlier in July, Purdue reached an agreement with several states
over the litigation.
The agreement, supported by longstanding holdouts including
Massachusetts and New York, sets the stage for Purdue to gain court
approval in coming weeks for its bankruptcy plan, which the company
values at more than $10 billion.
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That value is contingent in part on future
donations of overdose reversal and addiction
treatment medications the company has under
development.
The plan would dissolve the company and shift
assets to trusts run on behalf of the plaintiffs
that alleged the company and its owners
aggressively marketed the painkiller OxyContin
while playing down its abuse and overdose risks.
If approved, it would also include legal
releases that shields the Sacklers from future
litigation.
(Reporting by Shubham Kalia; Editing by Amy
Caren Daniel)
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