J&J
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A Johnson & Johnson subsidiary filed for bankruptcy for the third time on Friday as the healthcare giant pushes forward with a proposed $10 billion settlement aimed at resolving tens of thousands of lawsuits accusing its baby powder and other talc products of causing cancer. More than 62,000 claimants have sued J&J, alleging that its…
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Johnson & Johnson (J&J) announced on Friday that it is negotiating with plaintiffs’ lawyers who have opposed the company’s proposed settlement of lawsuits alleging that its baby powder and other talc products caused cancer. The company aims to eliminate holdouts and finalize a $6.48 billion global settlement through the bankruptcy of a subsidiary company, following…
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A U.S. appeals court upheld the decision to end J&J’s second attempt to resolve tens of thousands of cancer lawsuits through a shell company’s bankruptcy. J&J, meanwhile, is pressing forward with its third bankruptcy strategy. On Thursday, the 3rd U.S. Circuit Court of Appeals ruled that the company’s second effort, like its first, failed because…
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