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Lawyers for more than 60,000 victims who support the settlement called it “a watershed moment in the opioid crisis,” while recognizing that “no amount of money could fully compensate ...
On July 11, 2023, Mallinckrodt was sued for allegedly misleading investors for misrepresenting its financial strength before missing payments to opioid victims and bond holders. [49] On July 14, Mallinckrodt's $200 million opioid payment was once again extended to July 21. [50] On July 17, it was extended yet again to August 15. [51]
“The Purdue plan was a victim-centered plan that would provide billions of dollars to the states to be used exclusively to abate the opioid crisis and $750 million for victims of the crisis, so ...
The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy.
Drugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid ...
Mallinckrodt said it, along with generic-focused subsidiaries, has reached an agreement in principle on a settlement agreement that would resolve all opioid-related claims against the entities.
Millions of people in the U.S. have been impacted by the opioid epidemic. Between 1999 and 2021, more than 280,000 people died of overdoses involving prescription opioids, according to the CDC.In ...
Mallinckrodt said on Monday it had agreed to pay $1.6 billion over several years to settle opioid-related litigation. About $450 million would be paid as part of its settlement once the company ...