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Source: OxyContin maker seeks to resolve all lawsuits

FILE - This Feb. 19, 2013 file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt.
Toby Talbot, Associated Press

COLUMBUS, Ohio — A settlement being pursued by the maker of OxyContin aims to resolve all claims against the company filed in both state and federal court.

The proposal also provides a formula for dividing settlement money among states and local governments.

A person familiar with the talks but not authorized to discuss them publicly tells The Associated Press the proposal is being floated by lawyers for Stamford, Connecticut-based Purdue Pharma and the controlling Sackler family. Purdue would enter a structured bankruptcy that would resolve all claims.

They are negotiating with several state attorneys general and a lawyer representing local governments as part of a massive federal litigation in Cleveland.

The settlement, if reached, would apply to the nearly 2,000 lawsuits in federal court and hundreds of other local government and state lawsuits.