Attorney General William Tong announced today that the United States Bankruptcy Court for the Southern District of New York has confirmed the Purdue Pharma bankruptcy plan, approving a $7.4 billion settlement between 55 attorneys general, Purdue Pharma and its owners, the Sackler Family.
“Today’s confirmation permanently exiles the Sackler Family from the addiction industry and ensures that their name be forever synonymous with greed, shame and devastation. There is no amount of money, no amount of justice that will ever make whole the lives lost, and families destroyed by the Sackler Family and Purdue Pharma’s craven pursuit of profit. What we have today is a $7.4 billion promise to every victim, every family and every community that we will never stop fighting for them, and that we will use every opportunity from this settlement to save lives through treatment and prevention, as well as direct support to victims and their families,” said Attorney General Tong.