Johnson & Johnson seeks bankruptcy approval to end talc lawsuits, proposing a $6.48bn settlement.
Johnson & Johnson (J&J) seeks approval for its bankruptcy plan to end talc lawsuits, capping liability and establishing a compensation fund for victims. Facing over 61,000 lawsuits alleging cancer from talc products, J&J proposes a $6.48bn settlement. The company maintains its talc products are safe, while some plaintiffs' lawyers oppose the maneuver as a bankruptcy system abuse. The outcome may set a precedent for the Texas two-step as a corporate defense strategy.
July 08, 2024
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