Reform bankruptcy laws, hold liable owners accountable!

U.S. Congress

At the center of the Purdue Pharma case in front of the Supreme Court is the question: Can corporations use bankruptcy law to shield their negligent owners from accountability? Clearly, the answer should be no, especially when it comes to the Sacklers fueling the opioid crisis in America. They must be held accountable for their actions.

The Biden administration brought this action against Purdue because of its belief that corporations and wealthy individuals should not be able to abuse the bankruptcy system to avoid liability for their actions.1

Senator Elizabeth Warren has led the charge to reform bankruptcy law to ban people like the Sacklers from escaping accountability in corporate bankruptcies.2

Purdue Pharma, the maker of OxyContin, is facing a lawsuit from the Biden administration questioning the legality of a bankruptcy settlement that would shield the Sacklers from lawsuits for fueling the opioid crisis in America.3

This is such an important case, because the Sacklers should NOT be shielded from accountability for fueling the opioid epidemic and ruining so many lives.

This would not even be a case before SCOTUS if Congress passed a law to ensure that wealthy owners and executives can’t evade liability just because the corporation files for bankruptcy. Congress can still act to hold the Sacklers accountable and ensure no other owners and CEOs escape accountability for wrongdoing while in charge of corporations.

ADD YOUR NAME to Demand Progress' petition: Congress must reform bankruptcy laws! >>

Sources:
  1. https://www.reuters.com/business/healthcare-pharmaceuticals/us-supreme-court-set-review-purdue-pharma-bankruptcy-settlement-2023-12-04/
  2. https://www.wsj.com/articles/elizabeth-warren-targets-sacklers-lawsuit-exemptions-in-purdue-bankruptcy-11627041600
  3. https://www.reuters.com/business/healthcare-pharmaceuticals/us-supreme-court-set-review-purdue-pharma-bankruptcy-settlement-2023-12-04/
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To: U.S. Congress
From: [Your Name]

Reform bankruptcy laws so owners and CEOs don’t escape liability when corporations file for bankruptcy.