10 Health Care Stocks With Whale Alerts In Today's Session
Talcum powder cancer litigants: Johnson & Johnson subsidiary's third bankruptcy application should be rejected.
Johnson & Johnson (JNJ.US) subsidiary Red River Talc LLC made its third attempt last week to file for bankruptcy to resolve an approximately $8 billion settlement accepted by 83% of baby powder litigants. However, lawyers who have long fought against Johnson & Johnson for compensation argued on Monday that the bankruptcy filing should be rejected because it violates the precedent of the US Supreme Court and distorts the purpose of the US bankruptcy system. According to a recent decision by the US Supreme Court earlier this year, Johnson & Johnson cannot force women with ovarian cancer to join the proposed $8 billion settlement agreement. In June of this year, a US judge rejected the proposal by a 5-4 vote.
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