NECC Buckles Under Meningitis Suits, Files For Ch. 11

Law360, New York (December 21, 2012, 8:03 PM EST) -- The New England Compounding Center on Friday said it had filed for Chapter 11 bankruptcy protection in Massachusetts with a goal of establishing a fund to compensate individuals and families affected by the deadly fungal meningitis outbreak linked to the pharmacy.

The company, which is facing numerous lawsuits filed by victims of the outbreak, filed for bankruptcy Friday listing between $1 million and $10 million in both assets and liabilities. The pharmacy said in a statement that its plan is to provide a "greater, quicker, fairer...
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