Johnson & Johnson, talc
Johnson & Johnson Files Third Bankruptcy Case Seeking to End Talc Lawsuits
The healthcare-products company is taking another shot at resolving mass cancer lawsuits in chapter 11 after two failed attempts.
Johnson & Johnson unit seeks third Chapter 11 bankruptcy filing to settle talc claims
A Johnson & Johnson (NYSE:JNJ) subsidiary, Red River Talc, that has been formed to handle claims related to the healthcare giant's talc-based products, filed a voluntary prepackaged Chapter 11 bankruptcy case Friday to resolve current and future claims linked to ovarian cancer.
BREAKING: Johnson & Johnson Files Third Talc Bankruptcy in Texas
Beasley Allen opposed the Chapter 11 case, which includes up to $10 billion in nominal compensation to talc claimants. 'This proposed compensation is a gross undervaluation,' principal Andy Birchfield said in a statement to Law.
Johnson & Johnson Unit seeks Chapter 11 bankruptcy for third time over baby powder lawsuits
“Absent a Chapter 11 resolution, the talc litigation would continue for decades, at great expense to the Debtor but with no benefit to claimants,” the J&J unit’s lawyers said in court papers. Under its latest plan, baby powder victims would receive average payouts ranging from $75,000 to $175,000 depending on the severity of their injuries.
J&J Subsidiary Files for Bankruptcy to Advance $8 Billion Talc Settlement
The J&J Red River Talc unit made its filing in the U.S. Bankruptcy Court for the Southern District of Texas. J&J faces lawsuits from more than 62,000 claimants who alleged that its baby powder and other talc products were contaminated with asbestos and caused ovarian and other cancers.
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