The Justice Department says it has 'fundamental concerns' with Purdue Pharma’s plan to exit Chapter 11 bankruptcy protection.
A dozen drug manufacturers and distributors accused of fueling the nation's opioid epidemic faced a jury for the first time Tuesday.The Justice Department said Monday it has"fundamental concerns" withas it faced thousands of lawsuits across the country over its aggressive marketing of OxyContin and other opioid products.
"The proposed shareholder release violates due process principles," the Justice Department statement, filed with the bankruptcy court in White Plains, New York, said."To be sure, many individual creditors in the Purdue bankruptcy have agreed to give this release in exchange for the payments and other benefits they will receive under the plan, and presumably find this to be a fair deal.
"Although styled as a third-party release, it is nothing less than an illegal, court-ordered discharge of a potentially limitless group of non-debtors," the trustee wrote.In this Sept. 14, 2019, file photo, a sign on a facility occupied by Purdue Pharma is shown in Wilson, N.C.
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