Insys Hits Ch. 11 After $225M Kickback Settlement
Law360, Boston (June 10, 2019, 10:18 AM EDT) -- Facing a bevy of lawsuits and declining sales for its flagship opioid, Insys Therapeutics filed for Chapter 11 protection Monday in Delaware with plans to sell the company in a bankruptcy auction, listing liabilities totaling $262.5 million, days after a $225 million settlement resolved kickback claims.
Insys founder John N. Kapoor, center in this photo from last month, was recently convicted of racketeering charges in connection to the company's alleged bribery and kickback scheme. The company owes a substantial amount of money to law firms that have defended Kapoor and the company since a government investigation began years ago. (Getty) Insys Therapeutics Inc.’s...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!