Kleinberg Kaplan Partner Matthew Gold Featured in Latest Coverage of Purdue Pharma Litigation
Kleinberg Kaplan Creditors’ Rights and Bankruptcy Litigation partner Matthew J. Gold has been representing the State of Washington, the State of Oregon and the District of Columbia in their highly publicized legal battle against Purdue Pharma, maker of OxyContin, a painkiller that allegedly contributed to the national opioid crisis.
Matt’s argument during the bankruptcy trial was featured in NPR, in which he said, “We urge you not to make the historic mistake of confirming this plan.” On September 1, 2021, Purdue Pharma’s chapter 11 plan was approved by U.S. Bankruptcy Judge Robert Drain.
However, speaking in court and as highlighted in a Bloomberg Law article, “Sacklers to Exit From Complex Purdue Bankruptcy With Billions,” Matt said that Purdue’s chapter 11 plan has “fatal flaws” that could be overturned in appeal.
The article provides further background on OxyContin, a drug that was, at times, the most prescribed brand-name narcotic medication for treating severe pain that required around-the-clock management. As lawsuits brought on by state and local governments, tribes, hospitals and individuals grew, Purdue filed for chapter 11 protection in September 2019.
Kleinberg Kaplan associate Robert Tuchman also advises on this matter.
Kleinberg Kaplan’s Creditors’ Rights and Bankruptcy Litigation practice offers clients an aggressive approach to bankruptcy and insolvency issues. The firm has provided representation to individual and institutional debtors, creditors and investors of every type in bankruptcy litigation, adversary proceedings and contested matters in chapter 11, chapter 7 and chapter 15 cases, such as avoidance actions, adequate protection disputes, confirmation battles and claim disputes.