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September 12, 2019

Sacklers Would Remain Billionaires & Admit No Wrongdoing Under Tentative Opioid Settlement
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Purdue Pharma has reached a tentative proposed settlement with a number
of state, local and tribal governments over the company's role in
fueling the U.S. opioid crisis. Under emerging details of the
settlement, the Sackler family, which owns Purdue, would personally pay
$3 billion in cash plus another $1.5 billion after the pending sale of a
subsidiary company is completed. Purdue would then declare Chapter 11
bankruptcy and dissolve, before reforming to continue selling
pharmaceuticals including the opioid Oxy Contin. Profits would be used
to pay plaintiffs. Some prosecutors have vowed to oppose the deal.
Pennsylvania Attorney General Josh Shapiro said in a statement, "This
apparent settlement is a slap in the face to everyone who has had to
bury a loved one due to this family's destruction and greed. It allows
the Sackler family to walk away billionaires and admit no wrongdoing."


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