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NEW YORK (Reuters) -A Johnson & Johnson subsidiary can pursue its third attempt to resolve tens of thousands of lawsuits alleging its talc products caused cancer in a federal bankruptcy court in ...
The “two-step” maneuver involves offloading its talc liability onto a newly created subsidiary that then declares Chapter 11, a type of bankruptcy that involves a reorganization of assets and ...
To stop those lawsuits, J&J subsidiary Red River Talc filed for bankruptcy protection in a federal bankruptcy court in Houston. The company has denied the allegations and has called its products safe.
News. Science & Tech. Shopping. Sports. Weather. 24/7 Help. For premium support please call: ... Cancer victims ask court to block J&J talc bankruptcy. Mike Spector. June 12, 2024 at 1:40 PM.
A plaintiffs' lawyer who represents 11,434 of approximately J&J's roughly 100,000 talc claimants said the company's figure is inflated, and its latest bankruptcy petition is "fraught with problems."
J&J said in October that it was considering a new bankruptcy filing to resolve talc claims. Courts have rejected its two previous attempts to resolve talc litigation through bankruptcy, most ...
In the latest failed bankruptcy attempt, the company had proposed to pay $8.9 billion to talc claimants. J&J said last year that it was planning a third bankruptcy filing.
The cancer victims sought a preliminary order in New Jersey on June 11 to preventing J&J from filing for bankruptcy outside the state, which would have effectively foiled the $6.48 billion ...