Manhattan Bankruptcy Judge OKs Subpoenas for Sackler Family's Financial Records

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Manhattan Bankruptcy Judge OKs Subpoenas for Sackler Family's Financial Records
In August, before Purdue Pharma declared bankruptcy, New York Attorney General Letitia James filed 33 subpoenas for financial information associated with the Sacklers.
By Jane Wester | May 13, 2020 at 06:14 PM


A New York bankruptcy judge ruled Tuesday that subpoenas for financial information involving the Sackler family, which owns the pharmaceutical company Purdue Pharma, can move forward as the company continues to make its way through the bankruptcy process.

Purdue Pharma filed for Chapter 11 bankruptcy in September amid a flood of lawsuits related to the opioid crisis; the company makes the widely used drug OxyContin, which is one of the main substances blamed for opioid addiction.

U.S. Bankruptcy Judge Robert Drain of the Southern District of New York ordered that the financial records from more than two dozen members of the Sackler family and dozens more associated companies and trusts can be subpoenaed and requested for discovery.

Drain ordered that discovery material produced by financial institutions will be designated “outside professionals’ eyes only,” a category that gives access to outside counsel and associated staff and subcontractors. Information with that designation will not be publicly filed unless required by a court order, according to a protective order in the case.

In August, before Purdue Pharma declared bankruptcy, New York Attorney General Letitia James filed 33 subpoenas for financial information associated with the Sacklers.

The bankruptcy filing came just after one of those subpoenas uncovered nearly a billion dollars in wire transfers from Purdue Pharma to a private Sackler account, according to James’ office.

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https://www.law.com/newyorklawjournal/2020/05/13/manhattan-bankruptcy-judge-oks-subpoenas-for-sackler-familys-financial-records/

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