Johnson & Johnson Faces Legal Setback as Talc Bankruptcy Ruling Sparks Widespread Controversy
RIVERSIDE, N.J. — Johnson & Johnson faced a significant setback as its attempts to shield its talc products from litigation through bankruptcy proceedings have unraveled in a court ruling that reverberates through the legal landscape. This decision signals a major challenge for companies dealing with similar tort claims while highlighting the complexities of bankruptcy law as a strategy for large corporations. A federal judge recently determined that J&J’s maneuver to create a subsidiary to absorb its talc-related liabilities and subsequently declare that entity bankrupt was flawed. The ruling not only dismissed the bankruptcy case but … Read more