What was your department's most significant achievement in 2023, and why?
We have recovered $180 million to date from former officers and directors of Insys Therapeutics as counsel to the Liquidation Trust for the now-defunct pharmaceutical company. Insys, a significant contributor to the nation's opioid crisis, collapsed into bankruptcy after the company and its executives engaged in an unlawful scheme involving off-label marketing of its fentanyl spray, as well as bribery and kickbacks to doctors, among other illegal activity (which led to racketeering convictions and a $225 million fine). Case ongoing against founder and former CEO.
After three years of hard-fought litigation, including extensive fact discovery and expert reports, we confidentially settled a $90 million legal malpractice case against AmLaw 100 firm Duane Morris on behalf of our client Otto Bock Health Care North America. Otto Bock alleged that Duane Morris provided negligent antitrust advice in connection with its acquisition of Freedom Innovations. Only days after closing that transaction, the FTC intervened and sued Otto Bock for violating antitrust laws, leading to a forced divestiture of nearly all the Freedom assets.
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