Analysis

Purdue Bankruptcy May Leave State AGs Out In The Cold

Law360 (September 12, 2019, 9:45 PM EDT) -- Purdue Pharma LP's landmark deal to end thousands of opioid suits notably excludes dozens of states that may now have no other recourse than to sue the company's owners, the Sackler family. But if Purdue goes through with a planned bankruptcy filing, these states will find it difficult to recoup anything more than the Sacklers have already agreed to pay.

Purdue is expected to soon file for Chapter 11 protection as part of the settlement, a move that would largely shield the company of liability from the 20 or so holdout states. The company will be restructured as a "public beneficiary...

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