From Purdue Pharma To J&J: How Bankruptcy Can Protect From Lawsuits

The video discusses how major companies use bankruptcy to manage civil lawsuits, focusing on the controversial Texas two-step strategy. This involves splitting a company to isolate liabilities, allowing the new entity to declare bankruptcy and shield the original company from lawsuits. The video highlights cases like Johnson & Johnson and Purdue Pharma, exploring the ethical and legal implications of these practices. It also touches on the potential for reform in bankruptcy laws.

What are the criticisms surrounding the use of bankruptcy by major corporations?

How does the bankruptcy process affect plaintiffs, particularly in cases involving serious health issues?

Discuss the implications of the bankruptcy strategy used by Purdue Pharma.