The settlement will allow Stamford, Conn.-based Purdue to avoid filing for bankruptcy protection at least for now, according to the sources, who declined to speak publicly about the deal because they weren’t authorized to do so. Craig Landau, Purdue’s chief executive officer, confirmed in a March 8 interview with the Washington Post that “bankruptcy is an option” to deal with the wave of opioid suits that threaten the pharmaceutical company’s financial strength.

Source: Los Angeles Times March 26, 2019 13:52 UTC