The Legacy of Purdue Pharma, The Sackler Family, and Opioids
Why is this evil?
Purdue Pharma recently filed for Chapter 11 corporate bankruptcy, an act which can absolve a company of its debts. In doing so, this can have a negative impact on the pending 2600 federal and state opioid lawsuits. Before the filing, however, the owners of Purdue Pharma, the Sackler family, allegedly transferred from the company $1 billion dollars into their Swiss bank accounts, most likely avoiding any direct hit on their personal wealth and assets.
Editor’s Viewpoint:
One of the best things about living in a democratic republic is that, as a citizen, you can pursue all sorts of options and opportunities that can unlock doors for you to fulfill your wishes and dreams.
The key to success is that you have to know about them in order to take advantage of them.
And the Purdue Pharma Sackler family did just that by filing Chapter 11. after they allegedly transferred $1 billion dollars from the company to personal Swiss banks according to the New York state Attorney General, Letitia James.
BTW – Did you know that Chapter 11 of the United States Bankruptcy Code allows companies to reorganize in order to keep their business alive and pay creditors over time?
Specifically, under Chapter 11, the filing company can suspend all judgments, collection activities, foreclosures, and repossessions of property claims against the filing business.
And, in the case of Purdue, Pharma, still outstanding are over 2600 state and federal opioid lawsuits awaiting settlements that may never come to pass
Unfortunately, financial resolution of this case most likely will be of marginal benefit to the families involved.
Anytime you have lawyers, corporations, and the federal/state governments in the mix of a social crisis, the outcome and/or resolution usually does not bode well for the victims and their families.
Case in point, the Sandy Hook massacre.
Clearly, medical misinformation and corporate greed fueled the opioid epidemic in the United States and around the world.
According to the CDC, from 1999 to 2019, almost 400,000 people died in the United States from overdoses related to prescription opioids.
And many families paid the ultimate price for their faith in the medical and corporate providers of our national healthcare system responsible for taking care of their loved ones.
Views from every side
(Axios) Purdue Pharma’s first bankruptcy hearing starts today, commencing a process that will attempt to resolve 2,600 lawsuits that accuse the OxyContin maker of instigating an opioid crisis that has killed tens of thousands of Americans.
(Bloomberg) Purdue Pharma LP told a bankruptcy court it owes almost $100 million to pharmacy-benefit managers, drug distributors and state health departments in fees and rebates.
(Foxnews.com) Legal powerhouse Lisa Bloom tried to line up big paydays for women who were willing to accuse President Trump of sexual misconduct during the final months of last year’s election, according to an explosive report.
Don’t
Do not… meaning your should not engage, deal with, or work for.
Compromise
Compromise is the act of surrendering core values or beliefs in order to achieve a perceived solution.
Evil
We define evil as a deliberate harmful action.
Evil is not an opposing viewpoint or ideology.
Evil is not an individual person, organization, business, or government entity.
However, evil is the premeditated, harmful action done by an individual person, organization, business, or government entity.