Purdue Pharma is facing lawsuits from thousands of states, counties and cities across the country, and 26 states have named the Sacklers as defendants, alleging the family had a part in fueling the opioid crisis.
New York Attorney General Letitia James, sent subpoenas to 33 financial institutions last month in an effort to fully quantify the family’s wealth. Records from just one of those institutions show $1 billion in wire transfers by the Sackler family through financial institutions, including Swiss bank accounts.
Adam Zimmerman, an expert in complex litigation at Los Angeles-based Loyola Law School told The New York Times that the released information regarding the wire transfers could make it harder for the family to protect their personal wealth in Purdue Pharma’s bankruptcy proceedings.
Ms. James told The New York Times that she refuses to allow the Sacklers to misuse the courts to shield their financial misconduct.
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Historians request permanent, public archive of opioid litigation
