1. Purdue Pharma Paid CEO $9M in Year Before Bankruptcy

    Purdue Pharma Paid CEO $9M in Year Before Bankruptcy

    OxyContin maker Purdue Pharma paid its CEO $9 million and its board chairman nearly $4 million in the 12 months before the company's bankruptcy filing last month, according to recently filed financial documents. Five other board members overseeing the private company were paid a combined $3.7 million over that span. Purdue, a privately held company that usually does not disclose detailed financial information, had to make the information public as a part of its bankruptcy proceedings...

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    1. In a public company, that would be a rather extraordinary sum to pay a non-exec chair.
    2. During the past several years, employees have had to work under very challenging conditions as litigation has accelerated and the company has been targeted by the plaintiffs in the media.
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