Skip to main content

Start your day every morning with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter.

Oh, and BTW, The Water Coolest and Dealbreaker are giving away a Johnny Wall Street Starter Kit:

1x Patagonia Better Sweater Fleece Vest

1x pair of Birddogs shorts

1x JUUL Starter Kit

Sign up here to enter.


Purdue Pharma, the maker of OxyContin is considering filing for bankruptcy to help stop the bleeding as thousands of pending lawsuits threaten to overwhelm the company. Because apparently, Chapter 11 bankruptcy is to opioid-related death lawsuits as Cellino & Barnes is to slip and falls.

In case you’ve been living under a rock, opioid addiction has been deemed an epidemic by the CDC and threatens to rip apart the very fabric of our society. And much of the blame falls on Purdue, who has not only sold the painkillers since 1995 but allegedly has lied about their addictive properties.

More than 1.6k cities, counties, and states are suing the pill peddlers for sparking a public health crisis and taxing healthcare systems across the US. And this isn’t the first court battle that gave the Sackler's (Purdue is closely held by the Sackler family) an opportunity to prove "I got a few dollars I can fight the case."

In 2007 Purdue paid $634.5 million in penalties to settle civil litigation related to lying about … welp, the very thing it continues to lie about.

In "good" company

Should Purdue follow through with the legal maneuver, the company would join the crème de la crème of degenerate corporate citizens. PG&E and US Gymnastics have recently used the tactic (filing Chapter 11) to avoid lawsuits for their egregious misdeeds.

Purdue Pharma Preparing Possible Bankruptcy Filing  [WSJ]


- AT&T is shaking things up at Time Warner

- Newmont rejected Barrick Gold's bid

Sign up to receive The Water Coolest to get daily business news delivered to your inbox every AM.



Opening Bell 8.29.19

The Sacklers seem like the type of people who hate puppies ...

(Getty Images)

Opening Bell 2.24.19

Sooo who gets to stay in the Presidential Suite at Mar-a-lago?

Screen Shot 2019-02-05 at 4.41.16 PM

Opening Bell 4.5.19

Stay in your lane, Spiegel ...

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Opening Bell 02.18.20

Opioid wholesalers aren't off the hook yet ...


Opening Bell 11.20.19

Local teens had this to say: “Ok, boomer”

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Opening Bell 8.27.19

Just when you thought living in Oklahoma couldn't possibly get any worse ...

Getty Images

Opening Bell 5.6.19

What happens in Omaha stays in Omaha ...

Martin Shkreli

Opening Bell 6.3.19

Pharma Bro has got way too much time on his hands ...