J&J talc bankruptcies

Two days later, LTL filed a petition for Chapter 11 relief in the Bankruptcy Court for the Western District of North Carolina.

Good intentions— such as to protect the J&J brand or comprehensively resolve litigation—do not suffice alone.

Consistent with their fiduciary duties, and likely spurred by the U.S. Supreme Court’s denial of certiorari in Ingham, members of J&J’s management explored ways to mitigate Old Consumer’s exposure to talc litigation.

According to LTL’s expert, of 15 completed ovarian cancer trials, only Ingham resulted in a monetary award for the plaintiffs that was not reversed

settling roughly 6,800 talc-related claims for just under $1 billion in total

Judge Michael Kaplan in Trenton, New Jersey, said in an opinion that LTL Management's second bankruptcy must be dismissed because the subsidiary was not in "imminent" or "immediate financial distress."

J&J and its subsidiary, Red River Talc, had proposed a $9 billion bankruptcy package to settle cancer claims linked to its talc product.

Judge Christopher Lopez found that when J&J tried to get 75% of claimants to accept the settlement, the pharma improperly solicited votes—in turn invalidating most of the responses.

The pharma will not appeal the decision and will instead “return to the tort system to litigate and defeat these meritless talc claims.”

In a statement following the dismissal, J&J insisted that its settlement plan was “supported by the overwhelming majority of the claimants.”

According to its press statement on Tuesday, J&J has already settled 95% of the suits related to mesothelioma linked to talc and closed all State consumer protection claims.

The U.S. Bankruptcy Court in Houston on Tuesday dismissed Johnson & Johnson ’s latest bankruptcy bid to resolve thousands of lawsuits related to its talc baby powder