FOR IMMEDIATE RELEASE: 09/10/2023
CONTACT: Max Croes — 907-570-2065

ANCHORAGE — Alaskans and pension fund beneficiaries spoke out today against U.S. Senate candidate Dan Sullivan’s decision to settle a $2.8 billion dollar lawsuit for twenty cents on the dollar and contribute to a shortfall - leaving billions of dollars on the table and potentially threatening the Permanent Fund

“Dan Sullivan talked a big game about bringing home billions for Alaskans, but the numbers speak for themselves: Sullivan cut Alaskans a bad deal and left billions of dollars on the table, leaving the bill with Alaskans and leaving the door open for a raid on the Permanent Fund,” said Max Croes Communications Director for Alaskans for Begich.

The Numbers:

What the damages were: $2.8 BILLION

What the state actually got: $403 million

What Sullivan paid out to a New York Law Firm: $91 million

What Dan Sullivan left on the table: $2.3 billion

By comparison other lawsuits netted: $.45 cents on the dollar

What Alaskan’s received: $.20 cents on the dollar

Dan Sullivan assured Alaskans an all but certain victory against an Outside firm, Mercer Investment Company, that he said committed fraud. Sullivan called the case “amazing” and told Alaskans he expected to win, but instead delivered a quarter of what Alaskans were owed.

The claim check by the Alaska Dispatch News recently confirmed that “Sullivan signed the settlement agreement for billions less than had been sought.”