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Illustration: Sarah Grillo/Axios

Purdue Pharma is very close to a settlement with states, cities, counties and Native American tribes over its role in fueling the opioid epidemic — but part of the settlement puts those governments in an awkward position.

Driving the news: A major part of the proposed settlement would involve Purdue declaring bankruptcy and the Sackler family members conceding ownership.

  • Purdue would then become a "public benefit trust corporation, with proceeds going toward the governments bringing the lawsuits," the Wall Street Journal previously reported.

The intrigue: The same governments that have alleged Purdue's OxyContin has wreaked havoc on their communities would pocket all future OxyContin profits.

  • If OxyContin sales fall, that would result in less money going to state and local governments.

The bottom line: Purdue has threatened to enter bankruptcy regardless of whether this settlement offer is accepted, so some plaintiffs may feel pressured to take what they can get — even if it means they become the beneficiaries of painkiller sales they view to be tainted.

Go deeper

Updated 2 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.

2 hours ago - World

UN assembly condemns Myanmar military coup

Protesters make the three-finger salute as they take part in a flash mob demonstration against the military coup. Photo: AFP via Getty Images

The UN General Assembly on Friday condemned Myanmar's military coup and called for an arms embargo against the country, AP reports.

Why it matters: The rare move demonstrates widespread global opposition to Myanmar's military junta, which overthrew the country's democratically elected government and seized power on Feb. 1.

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