Email: Opioid Talks Fail, Purdue Bankruptcy Filing Expected
Source: AP
CLEVELAND (AP) OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday.
The breakdown puts the first federal trial over the opioid epidemic on track to begin next month, likely without Purdue, and sets the stage for a complex legal drama involving nearly every state and hundreds of local governments.
Purdue, the family that owns the company and a group of state attorneys general had been trying for months to find a way to avoid trial and determine Purdue's responsibility for a crisis that has cost 400,000 American lives over the past two decades.
An email from the attorneys general of Tennessee and North Carolina, obtained by The Associated Press, said that Purdue and the Sackler family had rejected two offers from the states over how payments under any settlement would be handled and that the family declined to offer counterproposals.
Read more: https://www.usnews.com/news/business/articles/2019-09-07/opioid-talks-at-impasse-purdue-bankruptcy-filing-expected
crazytown
(7,277 posts)The Stackler family could not have got off the hook.
Wellstone ruled
(34,661 posts)any differently? These Suckers were telegraphing this outcome from the get go.
cstanleytech
(26,080 posts)the ultra wealthy start being held more financially and criminally liable rather than treated like royalty and untouchable like so many of them have been.
OldBaldy1701E
(4,968 posts)Of course, since this country worships that little green piece of paper, we both know this in not going to happen anytime soon, if at all. The wealthy repub exodus that you are seeing the beginnings of is not going to stop with our government, as I expect all those flag waving asshats to start moving to countries that will treat them like the royalty they think they are the second our country stops doing so. 'Patriotic' is just a political hack term these days that one uses to appeal to the apparently absurd number of idiots residing in our country. I expect the Sacklers and the big wigs at Purdue to come out of this like the fat cats they are and I expect them to try and run like scalded cats the second they think we the peons are not giving them the proper worship. Watch and see... they won't be the only bottom feeders to run.
cstanleytech
(26,080 posts)as we could see a reenactment of the French Revolution in this country and all the money in the world won't do them any good if they end up 6 feet under.
EarthFirst
(2,877 posts)The way they were able to structure the settlement allowed a majority of their personal assets to be shielded from compensatory damages under Chapter 11 filings.
https://www.washingtonpost.com/health/sacklers-could-hold-on-to-most-of-personal-fortune-in-proposed-purdue-settlement/2019/08/31/4577f93a-cb71-11e9-a4f3-c081a126de70_story.html
cstanleytech
(26,080 posts)mountain grammy
(26,571 posts)"Negotiating" a deal! Outrageous. Yes, ciminal liability is in order with fines in the billions and jail time.
roamer65
(36,739 posts)PatSeg
(46,804 posts)would be enough to warrant serious charges. Maybe it has to be half a million before they would be considered murderers.
pecosbob
(7,511 posts)I like the visceral nature of the gibbet myself.
LiberalArkie
(15,686 posts)FakeNoose
(32,355 posts)... that they'll never need to start another business. The Sackler family have already walked away unscathed, and their money is safely out of the country and the US government can never touch their money. Their lawyers and accountants saw to that over a decade ago.
Julian Englis
(2,309 posts)Sudsy
(58 posts)need to go to jail.
SocialMediaInfluenza
(22 posts)Phucking Phony Philanthropists!