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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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Express News | Johnson & Johnson subsidiary applies for bankruptcy protection due to talcum powder-caused cancer issues.
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Johnson & Johnson Boosts Talc Settlement Payment to $8 Billion in Unit's Bankruptcy Case
Johnson & Johnson Files Third Bankruptcy Case Seeking to End Talc Lawsuits -- WSJ
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Express News | johnson & johnson (JNJ): In the baby powder cancer case, 83% of the plaintiffs support the company's proposed bankruptcy reorganization plan. The settlement costs have been further increased to over 8 billion US dollars.
Express News | J&J: Contemplated Settlement Represents Present Value of About $8 Bln to Be Paid Over 25 Years, Totaling About $10 Billion Nominal
Express News | J&J: Company Reiterates That None of Talc-Related Claims Against It Have Merit
Express News | J&J: Plan Would Resolve 99.75% of All Pending Talc Lawsuits Against Johnson & Johnson and Its Affiliates in the United States
Express News | J&J -Approximately 83% of Current Claimants and the Future Claims Representative Support the Proposed Bankruptcy Plan
Express News | J&J - Red River Increased Its Settlement Commitment by $1.75 Billion to Approximately $8 Billion
Express News | Johnson & Johnson Announces That Its Subsidiary, Red River Talc LLC, Has Filed a Voluntary Prepackaged Chapter 11 Case to Resolve All Current and Future Ovarian Cancer Talc Claims