Reuters exclusively reported that OxyContin maker Purdue Pharma LP is preparing to seek bankruptcy protection before the end of the month if it does not reach a settlement with U.S. communities over widespread opioid litigation, after some states balked at the company’s $10 billion to $12 billion offer in August to end their lawsuits as part of a negotiated Chapter 11 case. Purdue faces more than 2,000 lawsuits from cities, counties and states alleging it helped fuel the U.S. opioid epidemic.
Reuters reveals OxyContin maker prepares ‘free-fall’ bankruptcy as settlement talks stall
03 September 2019, 12:00 am 1 minute
Type: Reuters Best