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Opioid Maker Insys Sinks After Saying It May Be Forced to File Bankruptcy

Tony Owusu

The company also said it was uncertain that it will be able to complete a final settlement with the Department of Justice, including the execution of a security agreement related to the company's assets to collateralize payments under the settlement. "If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried on our audited consolidated financial statements, and it is likely that investors will lose all or a part of their investment," the company said in its first-quarter earnings release. Insys added: "It may be necessary for the company to file a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to implement a restructuring.