Headline Roundup • June 27th, 2024
Supreme Court Issues Rulings on Sacklers, SEC, and EPA
Supreme Court,Opioid Crisis,Opioids,Sackler Family,Purdue Pharma,Securities And Exchange Commission,Banking And Finance,Crime,Regulations,Federal State And Tribal Powers,Environment,EPA,Pollution
Summary from the AllSides News Team
The Supreme Court on Thursday released a set of highly-anticipated decisions related to a major opioid settlement and the regulatory authorities of the Environmental Protection Agency (EPA) and the Securities and Exchange Commission (SEC).
Sackler Settlement Thrown Out: In Harrington v. Purdue Pharma L.P., the court ruled 5-4 to reject a settlement agreement that would have shielded the Sackler family from liability over their company’s role in the opioid epidemic — and given billions of dollars to victims and their families. Writing for the majority, Justice Neil Gorsuch determined that a bankruptcy judge lacked the authority to shield the Sacklers from further litigation; Justice Brett Kavanaugh wrote a dissenting opinion joined by three other justices.
SEC Adjudication Curbed: In SEC v. Jarkesy, the court’s six conservative justices determined that the SEC’s in-house adjudication and enforcement of laws against securities fraud violated 7th Amendment rights to a trial by jury. Some media voices have previously noted that the decision could impact other agencies’ regulatory authorities as well. Chief Justice John Roberts wrote the majority opinion, and Justice Sonia Sotomayor wrote a dissenting opinion joined by the other two liberal justices.
EPA Clean Air Plan on Hold: In Ohio v. Environmental Protection Agency, a 5-4 majority provisionally sided with states challenging an EPA plan to curtail air pollution traveling across state lines, placing the plan on hold for now. Justice Gorsuch wrote the majority opinion, and Justice Amy Coney Barrett wrote a dissenting opinion joined by three other justices.
Featured Coverage of this Story
Evelyn Hockstein/Reuters
The Supreme Court rejected a settlement with OxyContin manufacturer Purdue Pharma that would have shielded the Sackler family from legal liability for the company’s role in exacerbating the disastrous opioid crisis.
The Supreme Court released the 5-4 decision Thursday morning, ruling that a bankruptcy judge did not have the authority to release the Sackler family from litigation filed by opioid victims. As part of the proposed deal, the family had agreed to give up ownership of the company and pay as much as $6 billion to settle opioid-related claims in exchange for...
REUTERS/Andrew Kelly/File Photo
The U.S. Supreme Court rejected on Thursday the Securities and Exchange Commission's in-house enforcement of laws protecting investors against securities fraud, dealing a blow to the agency's powers in a ruling that could reverberate through other federal regulators.
The decision - a setback for President Joe Biden's administration - upheld a lower court's decision siding with George Jarkesy, a Texas-based hedge fund manager who contested the legality of the SEC's actions against him after the agency determined he had committed securities fraud.
It was a 6-3 decision authored by Chief Justice John Roberts, with the court's...
Maddie McGarvey for The New York Times
The Supreme Court temporarily put on hold on Thursday an Environmental Protection Agency plan to curtail air pollution that drifts across state lines, dealing another blow to the Biden administration’s efforts to protect the environment.
The ruling followed recent decisions chipping away at the agency’s authority to address climate change and water pollution.
The ruling was provisional, and challenges to the plan will continue to be litigated in an appeals court and could then return to the Supreme Court. But even the temporary loss for the administration will suspend the plan for many months and...
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