24 Attorneys General Object to Purdue Pharma Proposed Bankruptcy Plan

    OxyContin maker Purdue Pharma filed a bankruptcy plan this week that would pay $500 million in cash to settle hundreds of thousands of injury claims linked to the company’s role in the nation’s opioid crisis. A group of state attorneys general immediately rejected the plan, NPR reports.

    Under the proposed plan, the Sackler family, which owns Purdue Pharma, would give up ownership of the company’s domestic operations. The family would admit no wrongdoing, and would still control their overseas subsidiaries for at least the next seven years. The plan has not yet been approved by a federal bankruptcy court, the article notes.

    A joint statement from 24 attorneys general said, “We are disappointed in this plan. While it contains improvements over the proposal that Purdue announced and we rejected in September 2019, it falls short of the accountability that families and survivors deserve.”

    By Partnership Staff
    March 2021

    Published

    March 2021