- Attorneys general from 24 states and the District of Columbia objected to Purdue’s request that a US bankruptcy judge shield the company from more than 2,600 lawsuits seeking billions of dollars in damages, according to court filings.
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“The Sacklers are billionaires, they are not bankrupt,” Massachusetts attorney general Maura Healey told Reuters in an interview. “They should not be allowed to use the filing to shield their assets.”
Purdue filed for chapter 11 bankruptcy protection last month after reaching a deal it estimated valued at more than $10bn that would resolve the bulk of the cases, most of which were brought by states and local governments.
The company said it needed the judge to pause the litigation against it and the Sacklers for nine months to try to settle with the hold-out plaintiffs and to preserve money being squandered on legal fees.