Activist Ryan Hampton sees a major defect for the proposed. $ 7.4 billion bankruptcy agreement Oxy Continin manufacturer has reached. He is one of the potential opioid settlements, but the victims say they want to see only small parts of funds.
Faced with thousands of lawsuits Opioid crisisPurdue has declared bankruptcy At the time, Purdue had no debt in 2019 and worth more than $ 1 billion. However, the company was facing vibration by claims and depended on the resolution bankruptcy procedure with a rich owner and a member of the Sackler family.
Bankruptcy is about money, not justice, Hampton said in 60 minutes. “It’s about who receives the most money and who is paid.”
HAMPTON was appointed by the Ministry of Justice in 2019 to represent the victim’s financial interests in the Purdue Pharma bankruptcy case. For two years he served the creditors’ committee.
Purdue Pharma’s claim and Sackler Family Member
Hampton says that one of the 140,000 claimants was harmed by Purdue’s opioids. He was 23 years old in 2003, saying he was prescribed oxy Contin due to a knee injury. One White House intern said he was addicted to powerful opioids and lost his political campaign and became homeless.
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Hampton was treated and overcame addiction 10 years ago and began speaking about Purdue and Sakler.
As part of the bankruptcy case, seven sacclers (former Purdue board members or employees) were made in 2020. Dr. Richard SacklerIn 2001, Purdue, chairman of the bankruptcy testimony, helped turn Oxy Contin into the most defined brand drug at the time, explaining the benefits of the drug and asking questions about the fatal risks of the drug.
His son David Sackler helped manage his family’s wealth and served in Purdue’s board of directors. During the sediment, he was asked about the responsibility for patients suffering from opioid use disorders or addiction after Purdue prescribed the company’s opioids.
David Sackler said, “What is your responsibility? This is defined with the danger of the label and we think it is terrible to them, but we think we should take a dramatic responsibility for them.
Sackler family members agreed to pay up to $ 6.5 billion of the agreement proposed over the next 15 years. When the transaction is completed, Purdue is expected to pay about $ 900 million.
“The kick of the intestine” for the victims
According to a recent status report submitted by Mediators, Sackler Family members continue to own Purdue Pharma, and until today, single victims have not been rewarded. According to the mediator’s report, the proposed $ 7.4 billion agreement may sound a lot, but only about 10%of the total will go to the victim.
Nearly 90%claim that 48 states, thousands of hospitals, insurance companies, and the best pharmacy chain, all said they paid prices to opioid epidemics.
Hampton said, “I felt that all the major companies under the sun were coming for part of Purdue.
He called it “grab” and headed CVSThere is a claim for bankruptcy.
Hampton said, “CVS was charged with the Ministry of Justice for deliberately filling suspicious opioid prescriptions last year.
According to the court record, lawyers, arbitrators and others have already paid almost $ 1 billion in Purdue. And 41 companies have paid more money than they are expected to sign a $ 7.4 billion agreement with the victim.
He also believes that some victims will not be paid.
Hampton said, “This is the kick of intuition.
To make a valid claim, many victims must show evidence of the Purdue Opioid prescription. It means that some families do not expect a dime at the settlement like Emily Walden.
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Walden said her son, TJ, was addicted to opioid after taking Oxy Contin. He was 21 years old and in the Kentucky Defense Forces when he overdose 13 years ago.
Walden said, “I talk with many parents. I know many people who have made a claim,” Walden said. “Nobody wants their blood money. But do they have the right to it? Did they pay funeral costs? Did they pay for the treatment of the company and Sacklers? Do they have to get back the money?”
Her son’s death certificate is the factor of oxycodone, oxycontin and other prescription opioids, Oxycodone. It may not be enough evidence in the bankruptcy case.
Walden explained why people should be eligible to be compensated as part of the agreement, even if they do not take the drug as prescribed.
“They knew that they were gaining great profits in putting this on the street. They knew it. Why is it not responsible for it?” She talked about Purdue. “You knew it was switching. And you let go of it.”
The victim’s family requires Sacklers to face criminal accusations.
Purdue has convicted the four seriously criminal sin for 30 years, including the 2007 petition, which is less addictive and more abused than other painkillers in 2007.
But to this day, members of Sackler Family or Purdue have never faced felony charges.
Former federal prosecutors, Rick MountCastle, led four years of investigation, which was convicted of Purdu in 2007. He told three best Purdue executives that he was ready to claim a serious criminal.
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He was the chief attorney of Purdue, and three executives hoped for the members of the Sackler family who had dominated the board of directors for decades by President Paul Goldenheim and Michael Friedman.
However, Mount Castle said that the crime was blocked by the Ministry of Justice’s boss in the George W. Bush administration. Instead, in 2007, three executives convicted the misdemeanor but refused to know Purdue’s crime.
MountCastle said, “It is not based on the facts and the best interests of the American people. This is a decision based on politics and personal interests.
After 30 years of federal prosecutors, he says he was disappointed with the Ministry of Justice.
MountCastle said, “From 2007 to today, everything has been done to protect billionaire.
Sackler has agreed to end the lawsuit for years of lawsuits, not guilty of guilty of innocence and claim for bankruptcy. The family will also give up Purdue’s ownership, but many wealth still remains.
During the years of bankruptcy, Sacklers accounted for more than $ 11 billion in Purdue, more than 70% of the company’s total assets. For 60 minutes, I asked for an interview with Richard Sackler’s family members, but I didn’t hear about the request.
Prior to the 60 -minute March 9 broadcast, which features a report from the correspondent Cecilia Vega for Purdue Pharma Settlement, we contacted Purdue Pharma for commenting on “The Settlement.” The company responded in 60 minutes as follows.
“In this case, we are satisfied with the reaching new contracts with almost all private and government stakeholders. The agreement conditions are the product of intense work with our creditors, and we are focusing on providing billions of dollars to compensate for the victims, saving the opioid crisis, and providing excessive re -sales that can save life. We are in the bankruptcy court. I look forward to the announcement.
Cecilia Vega
