States Agree To $7.4B Opioid Settlement
The attorneys general of all 50 states, Washington D.C., and four territories have agreed to sign on to a $7.4 billion settlement with Purdue Pharma and the members of the Sackler family who own the company.
The settlement seeks to resolve thousands of lawsuits over the opioid crisis. The family members would acknowledge their role in contributing to the epidemic with rampant production and aggressive marketing of opioids for decades.
According to the attorneys general, local governments across the country will now be asked to join the settlement contingent on bankruptcy court proceedings.
The next hearing is slated for Wednesday, when U.S. Bankruptcy Judge Sean Lane will consider Purdue Pharma’s request to set a schedule to confirm the company’s settlement.
“There will never [be] enough justice, accountability or money to restore the families whose lives have been wrecked or to right the terrible consequences of the Sackler family’s craven misconduct. What we announce today is both momentous and insufficient, the culmination of years of tumultuous negotiations and legal battles all the way up to the U.S. Supreme Court,” Connecticut Attorney General William Tong (D) said in a statement.
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