Johnson & Johnson said Tuesday it agreed to pay $8.9 billion to tens of thousands of people who allege their talcum powder products caused cancer, but plaintiffs’ attorneys rejected the offer. A “big win” in the legal battle. over ten years.
To complete the transaction, the court must first accept a new bankruptcy filing from Johnson & Johnson subsidiary LTL Management and the settlement itself. The company must also persuade enough applicants to support the settlement plan.
Johnson & Johnson set up his LTL in 2021 to defend itself against telecommunications-related disputes, but the division’s bankruptcy filing was challenged by plaintiffs and earlier this year it ruled that there would be no bankruptcy. Lost by the Court of Appeals. Correct way to solve the problem.
If approved, the settlement would end a long-running legal battle that has tarnished Johnson & Johnson’s image. The company’s baby powder is one of the company’s best-known brands, although not a best-seller, and many plaintiffs allege that the talc used in the product is contaminated with asbestos, a known carcinogen.
