Washington Wins $113M By Challenging Purdue Settlement
OLYMPIA, WA — Washington Attorney General Bob Ferguson's refusal to accept Purdue's "flawed" bankruptcy plan has paid off, securing the state an additional $113 million from the pharma giant to battle the opioid epidemic.
Back in September, Purdue Pharma's owners, the Sackler family, announced a bankruptcy plan to pay $4.3 billion over nine years to a coalition of private plaintiffs, municipalities and states — including Washington — that had sued Purdue for fueling the opioid epidemic.
Purdue produces OxyContin, and the suits alleged that Purdue deceptively marketed the drug to falsely convince the public that it was effective for treating pain with a low risk of addiction.
If Washington had accepted the initial proposal, it would've received roughly $70 million from the Sacklers, paid out over the next decade. Considering that the Sackler family withdrew nearly $11 billion from Purdue at the height of the opioid crisis, the Attorney Genera's Office argued the proposed settlement was inadequate — so inadequate the Sackler family would still likely end up richer by the time they were finished paying it off.
https://www.msn.com/en-us/news/crime/washington-wins-113m-by-challenging-purdue-settlement/ar-AAUzm0F