Purdue Pharma Files For New Chapter 11 Bankruptcy
The company pledged to give creditors including U.S. states and other parties over $7.4 billion.
Purdue Pharma has filed for a new Chapter 11 bankruptcy. The filing is the latest move in a lengthy legal battle fought by the Sackler family and a bipartisan group of state attorneys general, who say the addiction epidemic that has killed hundreds of thousands of Americans was exacerbated by the marketing and sales of Purdue’s oxycontin painkiller. The company…