PROVIDENCE, R.I. (WPRI) — Attorney General Peter Neronha is rejecting a tentative settlement agreement between Purdue Pharma and thousands of parties, including Rhode Island, that have sued the company for its role in causing the opioid epidemic.
The proposed agreement, announced Wednesday, would settle a long list of cases against Purdue and its owners, the Sackler family, in exchange for up to $12 billion over time, sources told The Associated Press.
But Neronha said he isn’t satisfied with the offer.
“Before we could responsibly reach any agreement, we would need much more information about the financial holdings of Purdue Pharma and the Sacklers to be confident that this resolution adequately compensates Rhode Island and, equally as important, holds the company and its owners accountable for the enormous destruction they have caused,” Neronha said in a statement.
Massachusetts and Connecticut are among the other states that have spurned the settlement agreement.
Neronha’s office filed a new suit Wednesday against seven members of the Sackler family, alleging that they mounted a “campaign to unlawfully promote and distribute opioids in Rhode Island” through Purdue Pharma. Portions of the 44-page complaint were redacted.
“We are committed to continuing to aggressively pursue our claims against Purdue Pharma and the Sacklers,” Neronha said.
Ted Nesi (email@example.com) is WPRI 12’s politics and business editor and a Target 12 investigative reporter. He is a weekly panelist on Newsmakers and hosts Executive Suite. Follow him on Twitter and Facebook