Money Stuff: The Podcast Blood Farming: Purdue Pharma, empty voting and frozen heads
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Jul 12, 2024 Dive into the legal intricacies surrounding Purdue Pharma's bankruptcy and its impact on victims of the opioid crisis. Explore the controversial concept of empty voting in corporate governance, raising ethical concerns. Delve into the fascinating crossroads of cryonics and identity, questioning the future of personhood. The conversation even humorously touches on blood farming and the quirks of wealth. Additionally, they tease a sci-fi novel, adding a creative twist to the thought-provoking discussions.
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Purdue Pharma Bankruptcy
- Purdue Pharma, maker of OxyContin, went bankrupt due to opioid lawsuits.
- The Sackler family, Purdue's owners, agreed to pay $6 billion for liability releases.
Impact of Supreme Court Ruling
- Non-consensual third-party releases in bankruptcy are now disallowed by the Supreme Court.
- This impacts mass tort bankruptcies like asbestos and tobacco, potentially reducing victim payouts.
Empty Voting in Massimo
- Politan, a hedge fund, won a proxy fight against health tech company Massimo, gaining board seats.
- They allege Massimo engaged in empty voting, borrowing shares for a short time just to influence the vote.