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Purdue Pharma’s bankruptcy plan includes special protection for the Sackler family fortune

In 2008, as Purdue Pharma was searching for a new chief executive, Richard Sackler received a memo from an adviser. “In the event that a favorable [recapitalization] deal cannot be structured during 2008, the most certain way for the owners to diversify their risk is to distribute more free cash flow to themselves,” Peter Boer, a ...