State Legal professional Common Proclaims Disappointment in Purdue Chapter Plan| Staff Compensation Information

Thursday, March 18, 2021 | 341 | 0 | 14 min read

The office of California Attorney General Xavier Becerra announced that Becerra was among 24 attorneys general in the United States to express disappointment after hearing of opioid giant Purdue Pharma’s plans to emerge from bankruptcy.

Attorney General
Xavier Becerra

“We are disappointed with this plan,” said Becerra and others in a joint statement. “While it contains improvements over the proposal that Purdue announced and rejected in September 2019, it falls short of the accountability families and survivors deserve.”

In the statement, the company run by the Sackler family is referred to as a “criminal company” and the company is punished for “decades of misconduct and its role in creating this crisis”.

Purdue, which developed the powerful and widely used drug OxyContin, proposed a $ 10 billion plan on Monday to get out of bankruptcy protection.

According to media reports on the proposed plan, Purdue would transform itself into a company that uses its profits to fight the country’s opioid crisis.

The plan includes an offer to settle more than 2,900 lawsuits filed against Purdue, and the Sacklers would reportedly allocate more than $ 4 billion of their own money to fighting epidemics.

Becerra and the other attorneys general have urged Purdue to amend its bankruptcy plan to include more money for states to tackle the opioid crisis. The declaration also calls for an “orderly liquidation of the company that does not entangle states and other creditors unduly”.

The joint statement was made by attorneys general in California, Colorado, Connecticut, Delaware, Hawaii, Idaho, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Hampshire, New Jersey, North Carolina, Oregon, Pennsylvania and Rhode Island, Vermont, Virginia, Washington, Wisconsin and Washington, DC