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June 24, 2019
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EXCLUSIVE-JPMorgan cuts ties with OxyContin maker Purdue Pharma -sources
Thu, 23 May 2019 14:08:33 -0400

JPMorgan Chase & Co has cut ties with Purdue Pharma LP over the OxyContin maker's alleged role in the U.S. opioid crisis, forcing it to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday. The move makes JPMorgan, the largest U.S. bank by assets, the most high-profile corporation known to have distanced itself from Purdue and its wealthy owners, the Sackler family, amid thousands of lawsuits alleging the company pushed addictive painkillers while downplaying their abuse and overdose risks. JPMorgan's decision also underscores a drive among U.S. banks to reassess their relationships with clients and industries in response to controversy and political de read the full story...

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