Oxycontin-maker Purdue Pharma may file for bankruptcy amid hundreds of lawsuits filed across the country alleging the company is responsible for the nation’s opioid crisis. According to reports, Purdue has hired advisers to prepare for a potential bankruptcy filing, which would allow it to negotiate claims with some of the more than 1,500 cities, states, local governments and other entities that have filed lawsuits. Between 1999 to 2017, more than 700,000 people in the U.S. died from drug overdoses, reports the Centers for Disease Control and Prevention.
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From the Texas Trial Lawyers Association news release.