October 26, 2019 / 12:37 AM / 17 days ago

SEC wants bankrupt opioids maker Insys to rewrite releases

The U.S. Securities and Exchange Commission has objected to bankrupt opioid maker Insys Therapeutics Inc’s disclosures of it liquidation plan, saying it may shield third-parties, including the company’s officers, from lawsuits in a way that is at odds with federal bankruptcy law.

In court papers filed Thursday with the U.S. Bankruptcy Court in Delaware, the SEC said Insys’ terms for third-parties releases are confusing and incomplete because the company has not filed a list of parties excluded from releases as it said it would.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2JnaQh6

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