Agenda Item # 11.m.
City Commission Regular Meeting - 6:00 pm
- Meeting Date:
- 07/06/2021
- Re
- Opioid litigation - Purdue Pharma Bankruptcy settlement plan
- Submitted For:
- Pete Sweeney
SUBJECT:
Approve opioid litigation, Purdue Pharma Bankruptcy Settlement Plan.
SUMMARY:
Purdue Pharma was one of the leading opioid manufacturers in the United States. They have been sued by various entities for causing the opioid crisis, but filed bankruptcy in September of 2019. There is now a proposed settlement plan in the bankruptcy, which needs approval by creditors, including the City of Fort Pierce. According to outside counsel for the city, the distribution is expected to be approximately $5 billion.
RECOMMENDATION:
Approve the proposed settlement.
ALTERNATIVES:
Do not approved the proposed settlement.
RESPONSIBLE STAFF:
Peter J. Sweeney, City Attorney
COORDINATED WITH:
N/A
Fiscal Impact
OTHER INFORMATION:
N/A
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| City Manager | Nick Mimms | 06/30/2021 02:20 PM |
- Form Started By:
- psweeney
- Started On:
- 06/29/2021 02:22 PM
- Final Approval Date:
- 06/30/2021