Steadfast Insurance Company v. Purdue Frederick Company
Analysis Group academic affiliate Steven Shavell of Harvard Law School provided expert analysis for Purdue Pharma L.P. in a matter involving insured legal costs incurred by the pharmaceutical manufacturer. Purdue Pharma had been the target of nearly 1,400 lawsuits over its painkiller, OxyContin, and the company's insurer, Steadfast Insurance Co., filed suit over the defense costs related to suits involving the drug. Professor Shavell, supported by an Analysis Group team led by Managing Principal Paul Greenberg, analyzed insurer-insured conflicts of interest, legal defense strategy, and financial exposure associated with product liability claims involving pharmaceutical products. This involved compilation of key facts about mass tort cases, including projections of the likely number of claimants and the average payout per case. The case settled before reaching trial.