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Purdue Pharma Expected to File Bankruptcy Amid Settlement Negotiations ‘Hitting An Impasse’

By Tyler Durden | 9 September 2019

ZERO HEDGE — The makers of Oxycontin, Purdue Pharma, are now expected to file for bankruptcy after settlement talks regarding the nation’s opioid crisis have “hit an impasse”, according to ABC News.

This impasse puts Purdue’s federal trial over the opioid epidemic on track to start next month and sets the stage for significant legal drama involving state and local governments.

Purdue had been working for months to try and avoid trial by determining the company’s responsibility for the crisis, which has cost over 400,000 Americans their lives. But an email from the attorneys general of Tennessee and North Carolina revealed that Purdue and the Sackler family had rejected two offers from the states over how payments would be handled as a result of a settlement. […]

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