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Under a bankruptcy plan filed late Monday, the OxyContin maker would pay $500 million up front, promising billions in future payments. Twenty-four states rejected the proposal.
McKinsey is the latest major American corporation to face legal, financial and public relations peril stemming from its role in the nation’s deadly opioid epidemic.
Thousands of lawsuits that ground to a halt because of COVID-19 are moving forward again as local, state and federal courts reopen around the U.S.
If finalized, such a deal could funnel tens of billions of dollars to American communities struggling with the addiction crisis, while restoring stability to one of the country’s biggest industries.