Johnson & Johnson Faces Tumultuous Setback as Bankruptcy Court Challenges Talc Litigation Strategies
Johnson & Johnson faced a significant setback as a bankruptcy court rejected the company’s attempt to manage its talc litigation through a controversial bankruptcy strategy. This decision highlights the ongoing legal challenges Johnson & Johnson has encountered concerning its talc-based products, which have been linked to allegations of cancer risk. The ruling stemmed from Johnson & Johnson’s initiative to create a subsidiary to handle the numerous claims related to its talc products. The company sought to resolve lawsuits by filing for bankruptcy for this newly formed entity, hoping to limit its financial liability. However, the … Read more