An opioid producer, Insys Theraputics, is preparing a bankruptcy under Chapter 11

The opioid manufacturer Insys Therapeutics on Monday filed for bankruptcy protection under Chapter 11, a week after the company agreed to pay $ 225 million to settle civil and criminal investigations with the Department of Justice . In May, Insys founder John Kapoor and three other leaders pleaded guilty to five counts of racketeering conspiracy in a federal corruption case. Kapoor joined Forbes' list of global billionaires in 2013 while Insys stock flew away with sales of Subsys, a form of fentanyl. Insys has garnered strong criticism after videos of his squad's team touting the criticism of his sales team boasted of his opioid marketing that appeared during the trial. "After conducting a thorough review of available strategic solutions, we determined that a court-supervised sales process was the best way to maximize the value of our assets and to resolve our legacy legal issues in a fair and timely manner." transparent, "said Insys CEO Andrew Long said in a statement announcing the bankruptcy filing. Monday morning, the shares of Insys were down nearly 60% from their closing Friday.