RI Has Not Agreed to Proposed Settlement with Purdue Pharma, Neronha Claims
Thursday, September 12, 2019
Attorney General Peter Neronha announced that Rhode Island has not agreed to the proposed settlement with Purdue Pharma and the Sackler family.
Neronha made the announcement in a statement released on Wednesday as other attorney generals across the country have been weighing in on a potential negotiated settlement. The Wall Street Journal reported late on Wednesday, "Purdue Pharma LP has secured support from 23 states and thousands of local governments for a multibillion-dollar deal that could enable the drugmaker to resolve much of the opioid litigation it faces through a planned bankruptcy restructuring, according to people familiar with the matter.
The OxyContin maker and its owners, the Sackler family, have been fighting some 2,500 lawsuits brought by virtually every state as well as cities, counties, Native American tribes and others accusing the company of helping fuel widespread opioid addiction."
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTNeronha has not been as aggressive as attorney generals in Massachusetts and New York.
"Some states, including Massachusetts, plan to challenge a bankruptcy filing should Purdue pursue one under the terms of the current proposal, the people said.
New York Attorney General Letitia James, a Democrat, called the deal an insult and said the Sackler family is 'attempting to evade responsibility and lowball the millions of victims of the opioid crisis.' Connecticut Attorney General William Tong, also a Democrat, said he opposes the proposal in part because it doesn’t involve the Sacklers returning 'money they took from selling opioids.' He added, 'This is not the end,'” reported the Wall Street Journal.
Read Neronha's Statement Below
Far too many lives have been lost or devastated in Rhode Island as a result of the opioid crisis.
We have not agreed to the proposed settlement framework with Purdue Pharma.
Before we could responsibly reach any agreement, we would need much more information about the financial holdings of Purdue Pharma and the Sacklers to be confident that this resolution adequately compensates Rhode Island and, equally as important, holds the company and its owners accountable for the enormous destruction they have caused.
We are committed to continuing to aggressively pursue our claims against Purdue Pharma and the Sacklers.
Today we filed a complaint against additional members of the Sackler family for the role that they played in the distribution of these highly addictive opioids in Rhode Island.
Latest on Purdue Pharma
As GoLocalProv reported back in August, Purdue Pharma, the opioid maker, and members of the billionaire Sackler family that own the company have offered to settle thousands of lawsuits against the company for $10 to $12 billion.
According to Financial Times, more than 2,000 states, cities, and counties across America are pursuing the OxyContin maker over the large bills for cleaning up the opioid crisis.
The Sackler family is one of the richest families in America. As part of the potential agreement, the family would give up control of the company.
Related Articles
- Top Anti-Tobacco Lawyer Moore Zeroes in on Purdue Pharma and Implications to RI Are Complex
- Purdue Pharma Considers Bankruptcy, Raimondo Refuses to Answer Questions About Ties to Company
- UPDATED: Purdue Pharma and Sackler Family Offering $10B to $12B to Settle Opioid Cases
- SEE VIDEO: Sackler’s RI Connections - Raimondo, Rhodes Technology, Education Reform and More
- VIDEO: Raimondo on Refusing to Return Sackler Money
- Raimondo’s Yale Ties Linked to Millions in Sackler Money
- Protest in Boston Over Sackler Donations, Raimondo Continues to Refuse to Return $12K
- Whitcomb: 6/10 Connector Conundrum; Send it Back to the Sacklers; Talking Up Tuna; Not-So-New NAFTA
- Raimondo Donor Sackler Tied to Opioid Crises, Has Donated Millions to RI Charter School Company
- Raimondo Refuses Again to Return Sackler Money on Democratic Governors Association Press Call
- EDITORIAL: Kudos to Raimondo for Donating Sackler Money, Time for Neronha to Step Up
- Whitcomb: Springtime for Public-Employee Unions; Sacklers at Tufts; Wisdom Through ‘Loafing’
- Raimondo Announces She Will Give Political Donations From Sacklers, After GoLocal Investigation
- NEW: NY AG Alleging RI Company Used By Sacklers to Move Millions to Family Controlled Trusts
- Documents Show Raimondo’s Donor Sackler Tied to Targeting Veterans with Opioids
