Other bidders can still compete with the Disney offer. The platform remains online for now, but it could shut down if no buyer emerges with an offer that allows it to keep operating. The company expects the sale to close in late November or early December. The settlements are not court findings of fault. Liability for pending tort claims is unresolved: one analysis says the Disney deal would leave those liabilities with the debtor company, and the outcome will determine whether plaintiffs can pursue recovery from a buyer. The 39-state coalition warns that the sale risks compromising sensitive personal data generated by millions of users.
For attorneys, the key question is whether liabilities stay with the old company or transfer to a buyer. Watch the bankruptcy docket for competing bids, the terms of any final sale order, and how the court treats the coalition's data objection. Regulators remain active, and the bankruptcy does not end government scrutiny of the industry. Attorneys representing families in pending or future claims should track whether the debtor's estate will have enough assets to satisfy them, since the company's disclosed assets fall between $50 million and $100 million.