On Sept. 15, 2019, Purdue Pharma filed for Chapter 11 bankruptcy and announced that it had reached an agreement in principle on a framework for settling the U.S. opioid litigation facing the Company with 24 state attorneys general, analogous officials from 5 U.S. territories, the Plaintiffs’ Executive Committee in the multidistrict litigation (MDL), and co-lead counsel in the MDL.

The settlement structure was estimated to provide more than $10 billion of value to address the opioid crisis.