Colorado AG Weiser among attorneys general to reject Purdue Pharma bankruptcy plan
(The Center Square) – Colorado Attorney General Phil Weiser joined 23 other states on Tuesday to reject a bankruptcy plan from Purdue Pharma that would pay out billions in settlements.
According to the plan, which was submitted in bankruptcy court Monday, the Sackler family—who own the company—would pay $500 million up front to settle thousands of personal injury cases. The family would then pay $4.2 billion in installments over the next decade. In total, the plan would cost over $10 billion.