J&J unit files for bankruptcy to advance US$10bil talc settlement

Quick Summary:

New York: A Johnson & Johnson (J&J) subsidiary has filed for bankruptcy for a third time as the healthcare giant seeks to advance an approximately US$10bil proposed settlement that would end tens of thousands of lawsuits alleging that the company’s baby powder and other talc products caused cancer.

Bankruptcy judges can enforce global settlements that permanently halt all related lawsuits and forbid new ones.

Other attorneys spoke in support of the deal, including Allen Smith, a lawyer who had previously represented 11,000 claimants in partnership with Birchfield’s law firm.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Corporate News Bankruptcy Talc Healthcare /Business/Business News Baby powder

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 00:00:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22644590

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Official Website: thestar.com.my

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Year Established: 1971

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