This week we had an important update in our work holding entities accountable for the opioid epidemic. I led a coalition of 8 states and the District of Columbia in filing an objection with the U.S. Bankruptcy Court. We are asking the judge to reject Purdue Pharma’s proposed bankruptcy plan and settlement.
The Sackler family (well-known for owning and founding Purdue Pharmaceutical) made over $11 billion in profits from producing and deceptively marketing OxyContin. OxyContin is a major driver of the opioid crisis in our country.
The Sackler family filed for bankruptcy to avoid being accountable for their actions fueling the opioid epidemic.
The Bankruptcy Court is considering a settlement negotiated by the Sackler family and numerous attorneys general. I’m asking the court to reject the settlement because it allows the Sacklers to remain multi-billionaires and one of the wealthiest families in America. It gets worse. If the settlement is approved by the judge, the Sackler family gets a lifetime legal shield from any future liability - forever. Adding insult to injury, the Sacklers won’t even have to apologize for fueling the epidemic that devastated Washington communities.
I cannot in good conscience accept those terms. That’s why we led the effort to file an objection to this potential result.
As long as I am Attorney General, I will continue fighting to hold powerful corporations accountable when they break the law — that’s a promise.
My office was one of the first in the country to sue Purdue. We were preparing to take them to trial when they declared bankruptcy. If the court accepts the settlement I’m objecting to, Washington will get its share of the settlement, which is expected to be approximately $65-$75 million.
But it’s not nearly enough. At a minimum, the Sacklers should pay back every penny of the $11 billion they made from Purdue and issue an apology to every family they devastated.
It’s important to me that I know where you stand on this issue. Will you tell me more about what you think of this critical case?
The opioid crisis robs thousands of Washingtonians of their lives every year and devastates families across our state.
It will cost Washington tens of billions of dollars to address the impact of this crisis.
The Sacklers must be held accountable for their role in fueling this epidemic. Do you agree? Please,
share your input on this issue → https://go.bobferguson.com/a/sackler-family
Thank you,
Bob