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That would cap its liability for all existing and future talc claims at the $8 billion it agreed to place in a settlement trust. J&J agreed to fund the proposed settlement trust over 25 years.
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.
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 ...
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The previous bankruptcy filings put the talc litigation on hold from 2021 to 2023, but trials have resumed after a federal judge ruled the latest bankruptcy case should be dismissed in July 2023.
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.
2023 Hollywood labor disputes. 2023 Writers Guild of America strike. The Writers Guild of America strike ends after nearly 22 weeks, following a agreement reached between union negotiators and Hollywood's studios and streaming services. Waheeda Rehman is awarded the Dadasaheb Phalke Award for her work in Hindi cinema. (Hindustan Times)
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