Vermont’s attorney general rejects Purdue Pharma settlement
MONTPELIER, Vt. (AP) — Vermont’s attorney general has rejected the tentative settlement with the family that owns OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis.
Nearly half the states and some 2,000 local governments have agreed to the proposed settlement with the Sackler family. T.J. Donovan said in a statement Thursday that the value of the settlement, reported at $10 billion to $12 billion, isn’t fully guaranteed.
The deal would lead to an expected bankruptcy filing. Donovan said he doesn’t believe that going to bankruptcy court “to create and spin-off a new, public benefit company is in the public’s interest.”
He said he would prefer to shut down the company, sell its assets and put the proceeds to use “helping Vermonters whose lives have been ruined.”