Purdue Pharma's bankruptcy filing won't end the lawsuits. Photo: John Moore/Getty Images

Purdue Pharma's first bankruptcy hearing starts today, commencing a process that will attempt to resolve 2,600 lawsuits that accuse the OxyContin maker of instigating an opioid crisis that has killed tens of thousands of Americans.

The big picture: Purdue is using bankruptcy as a tool to expedite legal remedies, but many state and local governments are ready to sue the Sackler family owners beyond bankruptcy court, arguing the family doesn't deserve bankruptcy protection.

Driving the news: To speed up the legal proceedings, several plaintiffs in the national opioid lawsuit have supported a settlement that would turn Purdue into a public benefit trust corporation, remove the Sacklers as owners, and allow governments to collect all future OxyContin profits.

  • Purdue declaring bankruptcy, and thus removing itself as a defendant, is part of the deal. Purdue and the Sacklers have admitted no wrongdoing.

Yes, but: Many states are preparing separate lawsuits against the Sacklers, arguing that the settlement is insufficient to help those struggling with addiction and that Purdue's bankruptcy is a maneuver to protect the Sacklers' wealth.

Where it stands: North Carolina Attorney General Josh Stein told Axios he is filing a lawsuit against the Sacklers in state court "imminently." More will follow.

  • "Purdue is a carcass of a drug company," Stein said. "The value is with the Sackler family. They should not get the benefit of protection from bankruptcy courts."

Between the lines: A major sticking point is what the Sacklers specifically will pay, considering they have taken out Purdue's assets over the years.

  • The Sacklers would pay $3 billion toward the tentative settlement, and possibly another $1.5 billion if a separate Purdue subsidiary is sold at a certain price. But Stein said all, not some, of the restitution from the Sacklers should be guaranteed.
  • The Sacklers have siphoned billions more dollars from Purdue into a complex web of offshore tax havens and trusts, the AP recently reported.
  • As one example, one of the trusts that owns Purdue is registered in a British territory off the coast of France, according to the bankruptcy filing.

Go deeper: Purdue's bankruptcy filing

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Updated 49 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 12,794,395 — Total deaths: 566,210 — Total recoveries — 7,033,187Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,278,946 — Total deaths: 135,066 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. States: Florida smashes single-day record for new coronavirus cases with over 15,000 — Miami-Dade mayor says "it won't be long" until county's hospitals reach capacity.
  4. Public health: Ex-FDA chief projects "apex" of South's coronavirus curve in 2-3 weeks — Coronavirus testing czar: Lockdowns in hotspots "should be on the table"
  5. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."

Lindsey Graham says he will ask Mueller to testify before Senate

Photo: Tasos Katopodis/Getty Images

Senate Judiciary Chairman Lindsey Graham (R-S.C.) tweeted Sunday that he will grant Democrats' request to call former special counsel Robert Mueller to testify before his committee.

The big picture: The announcement comes on the heels of Mueller publishing an op-ed in the Washington Post that defended the Russia investigation and conviction of Roger Stone, whose sentence was commuted by President Trump on Friday.

4 hours ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.