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On Johnson & Johnson's earnings call earlier this month, management provided an update on the talc lawsuits. Chief Financial Officer Joseph Wolk says that claimants will be able to vote on the ...
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."
JPMorgan Chase analysts in a separate note after J&J earnings last week said the talc settlement progress was "one of the most important drivers" of the company's stock in 2023.
The case began in July 2023, when Michael Perry, a longtime user of Johnson & Johnson’s Baby Powder, was diagnosed with mesothelioma. Perry, used the powder daily due to an allergy to deodorants. His legal team argued that Johnson & Johnson had been aware of the asbestos contamination in its talc products since the 1970s but failed to warn ...
Johnson & Johnson is moving forward with a $6.475 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ...
Johnson & Johnson was founded in 1886 by three brothers, Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson, selling ready-to-use sterile surgical dressings. In 2023, the company split-off its consumer healthcare business sector into a new publicly traded company, Kenvue .
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The company stopped selling talc-based baby powder in favor of cornstarch-based products, citing an increase in lawsuits and "misinformation" about the talc product's safety.