Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday Sept. 15, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits.
The terms of the filing, which include a proposed resolution of most of those cases, are expected to be fiercely contested by a group of states — led by Massachusetts and New York — that have refused to settle with Purdue and are intent on pursuing the company’s owners, the Sacklers, considered one of the wealthiest families in the United States. A showdown in bankruptcy court in White Plains could come as early as this week.
Source: The New York Times
Read more at: https://www.nytimes.com/2019/09/15/health/purdue-pharma-bankruptcy-opioids-settlement.html
