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Sackler family

September 10, 2019

Purdue Pharma expected to file for bankruptcy as settlement talks stall, family-owned Geely takes stake in German flying taxi start-up and Oracle’s Larry Ellison steps in to save daughter’s film production company.

Purdue Pharma expected to file for bankruptcy as settlement talks stall

The Sackler family, owners of Oxycontin-maker Purdue Pharma, have rejected a deal that would see them give up $4.5 billion of their personal wealth to settle multiple lawsuits against their company, according to two state attorneys general negotiating with the company.

FB Roundup: Sackler, Kristiansen, and Kadoorie

August 29, 2019

Sackler family offers up to $12 billion to settle opioid lawsuits, Lego family fund poaches Google director to join board and Asia’s richest families join the call to end Hong Kong unrest.

Sackler family offers up to $12 billion to settle opioid lawsuits

Purdue Pharma, the makers of OxyContin, the prescription painkiller at the heart of the US’ opioid crisis, have offered between $10 billion and $12 billion to settle more than 2,000 lawsuits from US states and cities.

The company, owned by the billionaire Sackler family, has been blamed for fuelling the US’ opioids crisis by aggressively and deceptively marketing its painkillers to doctors and downplaying the risks of addiction.

FB Roundup: Sackler, Soffer, and Schroder

March 13, 2019

Hedge fund dumps Sackler family over opioid crisis, billionaire Soffer siblings part ways, and Leonie Schroder replaces late father on Schroders board.

Hedge fund dumps Sackler family over opioid crisis

The billionaire Sackler family that controls OxyContin maker Purdue Pharma, already facing mounting legal and financial pressure, has been expelled from a hedge fund for its alleged role in fuelling the opioid crisis.

A spokeswoman for Hildene Capital Management confirmed the firm is returning Sackler family money, but declined to elaborate on the decision.

Sackler family office invests in alternative mutual fund

January 14, 2014

New York-based family office Summer Road has put $100 million (€73.1 million) into an alternative mutual fund, following a trend of ultra high net worth families shifting away from traditional hedge funds.

According to media reports, Summer Road, headed by David Sackler, the grandson of Raymond Sackler who bought Purdue Pharma in 1952, has provided the seed funding for the Balter Long/Short Equity Fund.