Johnson & Johnson Faces Setback as Talc Litigation Stirs Controversy in Bankruptcy Court
NEW BRUNSWICK, N.J. — Johnson & Johnson is facing renewed challenges as its plan to resolve claims linked to its talc products through bankruptcy has met with significant opposition in federal court. The company’s previous attempts to limit its financial exposure over allegations that its talc-based products contained harmful substances have been thwarted, culminating in a series of legal setbacks. In a recent ruling, U.S. Bankruptcy Judge Michael Kaplan dismissed the company’s bid for protection under bankruptcy laws, stating that Johnson & Johnson’s strategy to establish a subsidiary aimed at managing its liabilities remained impermissible. … Read more