J&J unit files for bankruptcy to advance $10 billion talc settlement
A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $10 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company's baby powder and other talc products caused cancer.
BREAKING: Johnson & Johnson Files Third Talc Bankruptcy in Texas
Beasley Allen opposed the Chapter 11 case, which includes up to $10 billion in nominal compensation to talc claimants. 'This proposed compensation is a gross undervaluation,' principal Andy Birchfield said in a statement to Law.
Johnson & Johnson Files Third Bankruptcy Case Seeking to End Talc Lawsuits
The healthcare-products company is taking another shot at resolving mass cancer lawsuits in chapter 11 after two failed attempts.
J&J subsidiary files for bankruptcy to advance $10 billion talc settlement
A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $10 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company's baby powder and other talc products caused cancer.
Attorneys Vow to Oppose J&J's Third Bankruptcy Attempt
"We view this so-called vote as another fraudulent effort by J&J to manipulate the bankruptcy process and minimize the legitimate claims of ovarian cancer victims," says Andy Birchfield of the Beasley Allen Law Firm.
Johnson & Johnson unit seeks third Chapter 11 bankruptcy filing to settle talc claims
Red River Talc, a Johnson & Johnson subsidiary, filed for Chapter 11 bankruptcy to settle ovarian cancer claims with an $8B settlement plan. Read more here.
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