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It proposed a $9 billion settlement to resolve claims by women who allege that they developed gynecological cancers after using J&J talc products. Outside of bankruptcy, any settlement J&J reached ...
After being rebuffed twice by federal courts, New Brunswick New Jersey-based J&J is attempting again to end the litigation in a so-called “Texas two-step” bankruptcy. J&J said the Red River ...
The 'Texas two-step' is back as J&J tries to shed talc lawsuits for a third time. Alexis Keenan. October 22, 2024 at 12:43 PM. Johnson & Johnson (JNJ) is taking a controversial legal argument to ...
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.
NEW YORK (Reuters) -A U.S. judge on Friday shot down Johnson & Johnson's second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 ...
Means test. DIP. v. t. e. A Texas two-step bankruptcy is a two-step bankruptcy strategy under US bankruptcy law in which a solvent parent company spins off liabilities into a new company, and then has that new company declare bankruptcy. [1] In the first step, the parent company undergoes a Texas divisive merger, which allows companies to split ...
Before the bankruptcy, J&J faced costs from $3.5 billion in verdicts and settlements, including one in which 22 women were eventually awarded a judgment of more than $2 billion, according to ...
J&J intends to have a subsidiary declare bankruptcy following claimants' vote on a $6.48 billion settlement offer. The company hopes to garner support from 75% of claimants as part of the ...