Corinne Ball, with Jones Day. Courtesy photoDistressed M&A: Mass Torts, Bankruptcy and Furthering the Search for Consensus: Another Purdue Decision
The author writes "This fall, the bankruptcy court extended the preliminary injunction for the thirty-seventh time and overruled an objection by the State of Maryland. Maryland subsequently appealed. Notably, in her prior rulings Judge McMahon correctly assessed Chapter 11 does not authorize releases of third parties, absent the consent of the affected claimholders, as determined and confirmed by the Supreme Court in Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024)."
December 23, 2024 at 10:16 AM
8 minute read
Recently, there was another appeal to Judge McMahon in Purdue addressing extension by the bankruptcy court of the preliminary injunction to stay litigation against the Sacklers and other nondebtor defendants. The bankruptcy court issued the preliminary injunction “to enjoin what the automatic stay could not: (1) governmental actions to enforce regulatory or police powers, and (2) actions against [r]elated [p]arties that might have an impact on the res of the estate.”
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Deal Watch: Latham, Skadden, Covington, Troutman, Fried Frank and Davis Polk Lead $10B+ Deals
8 minute read
Deal Watch: Simpson, Freshfields, Wachtell Lead Big Deals as SPACs, IPOs Crank Up
11 minute readTrending Stories
- 1Connecticut Movers: Year-End Promotions, Hires and an Office Opening
- 2Luigi Mangione Defense Attorney Says NYC Mayor’s Comments on Case Raise Fair Trial Concerns
- 3Revisiting the Boundaries Between Proper and Improper Argument: 10 Years Later
- 4Hochul Vetoes 'Grieving Families' Bill, Faulting a Lack of Changes to Suit Her Concerns
- 5Life, Liberty, and the Pursuit of Customers: Developments on ‘Conquesting’ from the Ninth Circuit
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
