Teva has gone from Israel’s economic golden child to a risky investment in just four years.
If the judge doesn’t grant the Sackler family protection from more lawsuits, Purdue said the initial settlement deal may fall through.
The move is part of a tentative settlement of $12 billion to settle myriad lawsuits connected to the company’s marketing of opioid painkillers.
“For all the leadership that we have in so many other spaces, the Jewish community had no leadership” in ethically responsible investing.
The move comes after a number of institutions refused further gifts from the family, majority owners of Purdue Pharma.
Police used wiretaps to catch an Italian doctor boasting about spreading opioid painkillers.
It is the first evidence that ties the family to company decisions to aggressively market OxyContin even though it is highly addictive.
“Drug dealers in nice suits and dresses,” one lawyer said of the family.
“I have a lot of friends who have overdosed, and they’ve been saved by Narcan. So at least we know that it works.”
The question for the Met isn’t about taking tainted money.