Private equity giant TPG Capital LP escaped some, but not all, claims brought by Endo International Plc’s unsecured creditors for allegedly profiteering from the $8 billion sale of Par Pharmaceutical Holdings Inc.
Trustee Matthew Dundon, suing on behalf of a trust for Endo junior creditors, can continue to pursue allegations that the maker of pain drugs like Opana and Percocet didn’t receive reasonably equivalent value for the purchase of Par from four TPG affiliates, Judge David S. Jones of the US Bankruptcy Court for the Southern District of New York ruled on May 29.
The trustee plausibly alleged Endo may ...