- A Tennessee state court issued a "default judgement" in April against the company in the lawsuit by county prosecutors over the company's generic for oxycontin, Opana.
- Earlier this month, a Tennessee appellate court declined to review that default judgement.
- The damages trial begins on July 26 in Tennessee. Plaintiffs are seeking $2.4 billion.
- A trial for a suit against the company begins in New York on June 28th and a California trial is ongoing.
- A bankruptcy filing is very likely the only way to settle all of these cases in a manner that preserves value.
For further details see:
Endo International: Bankruptcy Seems Like The Only Practical Option