NECC Files For Bankruptcy
New England Compounding Company, the reckless compounding pharmacy responsible for selling contaminated steroid serum injected into thousands of unsuspecting victims this year, has filed for bankruptcy. CGWC represents over 40 victims of this compounding pharmacy who received injections of the contaminated serum exposing them to fungal meningitis. One client has died. CGWC recognized early that bankruptcy was a likelihood and suspected the company was taking its sweet time to file for bankruptcy protection while it transferred or sold off assets to avoid accountability. Joining about 10 other firms, CGWC retained a law firm to file a petition to appoint a receiver to manage NECC’s assets, likely forcing this early bankruptcy filing and preserving assets. Time will tell if this company will really be held accountable. For now, CGWC is preparing to aggressively pursue its clients’ rights in bankruptcy court.