Will Purdue Bankruptcy Filing Resolve 'Unrelenting Chaos' Of Opioid Litigation?
Filing stays litigation but state attorneys general will be battling company's settlement proposal in US bankruptcy court. Details emerge on Purdue finances, rebate expenditures and litigation costs.
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NY AG has ‘no comment’ on whether criminal charges will be pursued against company executives; NC AG predicts ‘north of 40 states’ expected to accept settlement and would then need to convince municipalities to come on board. States with ongoing litigation against manufacturers may opt for jury trial instead.
Consulting firm agrees to turn over tens of thousands of documents detailing its advice to Purdue, J&J, Endo and Mallinckrodt and pay $537m as part of a deal with 47 states.
Purdue pleads guilty to three felony charges over marketing of OxyContin under settlement that requires Purdue to be dissolved and transformed into an entity that provides addiction and overdose medicines. Twenty-five state AGs oppose creation of a PBC, arguing Purdue should be sold to another company.