Johnson & Johnson Faces Major Setback as Bankruptcy Court Rules Against Talc Claims
Johnson & Johnson faced a significant setback as a federal judge rejected its efforts to secure protection from liabilities related to lawsuits claiming its talc products caused cancer. This decision culminates a series of legal entanglements that have plagued the company in recent years, complicating its strategies to manage claims exceeding $80 billion. The ruling comes from U.S. Bankruptcy Judge Michael Kaplan of New Jersey, who determined that J&J’s plan to resolve the lawsuits via its subsidiary, LTL Management, did not sufficiently address the claims made against it. The company had sought a bankruptcy approach … Read more