Fact Check: "Purdue Pharma filed for Chapter 11 bankruptcy in 2019 after being sued thousands of times."
What We Know
Purdue Pharma, the pharmaceutical company known for manufacturing OxyContin, filed for Chapter 11 bankruptcy on September 15, 2019. This filing was primarily a response to a multitude of lawsuits alleging that the company's marketing practices contributed significantly to the opioid epidemic in the United States. Reports indicate that Purdue faced thousands of lawsuits from various states and municipalities claiming damages related to the opioid crisis (Purdue Pharma Bankruptcy Transcripts Collection, Congress.gov, NPR).
The bankruptcy proceedings aimed to facilitate a reorganization plan that would address these lawsuits and provide compensation to victims of the opioid crisis. The Bankruptcy Court confirmed Purdue's reorganization plan in September 2021, but this plan faced legal challenges and was ultimately vacated by a District Court in December 2021 (Harrington v. Purdue Pharma, Congress.gov).
Analysis
The claim that Purdue Pharma filed for Chapter 11 bankruptcy in 2019 after being sued thousands of times is substantiated by multiple credible sources. The New York Times and NPR both reported on the bankruptcy filing, emphasizing the context of extensive litigation against the company. The Purdue Pharma Bankruptcy Transcripts Collection provides detailed documentation of the bankruptcy proceedings, confirming that the filing was indeed a strategic move to manage the overwhelming number of lawsuits.
Furthermore, the legal landscape surrounding Purdue's bankruptcy has been complex, involving appeals and rulings that have continued to evolve. For instance, the Supreme Court's involvement in the case has underscored the significant legal implications of Purdue's bankruptcy plan, particularly regarding the protections offered to the Sackler family, owners of Purdue (Harrington v. Purdue Pharma, Congress.gov).
The sources used in this analysis are reliable, including major news outlets and official legal documents, which lend credibility to the information presented. The ongoing legal battles and the nature of the lawsuits against Purdue Pharma highlight the severity of the claims made against the company.
Conclusion
Verdict: True
The statement that "Purdue Pharma filed for Chapter 11 bankruptcy in 2019 after being sued thousands of times" is accurate. The evidence from multiple reputable sources confirms that Purdue's bankruptcy was a direct response to extensive litigation regarding its role in the opioid crisis.
Sources
- Purdue Pharma Bankruptcy Transcripts Collection
- 23-124 Harrington v. Purdue Pharma L.P. (06/27/24)
- Factual and Procedural Background - Congress.gov
- Harrington v. Purdue Pharma: Supreme Court Holds That a ...
- Purdue Pharma, Maker of OxyContin, Files for Bankruptcy
- Purdue Pharma, Accused Of Fueling Opioid Crisis, Files For Chapter 11
- Kroll Restructuring Administration
- Recent Developments in the Purdue Pharma Case
