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Top related persons:
Johnson - 3 Michael Kaplan - 3 LTL - 3 Erik Haas - 3 J - 2 J's - 1 Anthony Hernandez Valadez's - 1 he's - 1
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New Jersey San Anselmo , California Trenton , New Jersey Wall Silicon California Johnson Trenton
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5 mentions found


☆ Johnson & Johnson effort to resolve talc cancer lawsuits in bankruptcy fails a second time
  + stars: | 2023-07-28 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +1 min
In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. A federal bankruptcy judge on Friday rejected Johnson & Johnson 's second attempt to resolve tens of thousands of lawsuits alleging the company's talc baby powder and other talc-based products caused cancer. J&J in 2021 offloaded those talc liabilities into a new subsidiary, LTL Management, and immediately filed for Chapter 11 bankruptcy protections. "LTL commenced its bankruptcy case in good faith and in strict compliance with the Bankruptcy Code," J&J said in a statement. J&J contends that research and clinical evidence demonstrates that its talc products remain safe.
Persons: Johnson, Michael Kaplan, LTL, J's, J, Erik Haas Organizations: LTL Management Locations: San Anselmo , California, Trenton , New Jersey
☆ A terminally-ill man won $18 million in a lawsuit after saying he got cancer from Johnson & Johnson's baby powder, but a bankruptcy court order means he likely won't live long enough to see the money
  + stars: | 2023-07-19 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +4 min
Johnson & Johnson was ordered to pay $18 million to a man who said he got cancer from baby powder. But these cases are on hold after LTL Management, a subsidiary of Johnson & Johnson, filed for bankruptcy in April. The six-week trial for Valdez's case was the exception, and is the first in two years involving these allegations against Johnson & Johnson. Johnson & Johnson stopped selling talc-based baby powder in 2020, offering a cornstarch-based version instead. Lawyers for Valadez and Johnson & Johnson did not immediately respond to requests for comment sent outside regular business hours.
Persons: Johnson, Anthony Hernandez Valadez's, he's, Anthony, Emory, Hernandez Valadez, Michael Kaplan, Valadez, Joe Satterley, Satterley, Erik Haas, who've, Johnson's Haas, LTL Organizations: Service, Johnson, LTL Management, Valadez Locations: Wall, Silicon, California, Johnson, New Jersey
☆ J&J's $8.9 billion talc settlement faces US bankruptcy test
  + stars: | 2023-06-27 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +3 min
J&J has said its talc products are safe and do not contain asbestos. Attorneys representing cancer victims, along with the U.S. Justice Department's bankruptcy watchdog, have called for LTL's second bankruptcy to be dismissed as an abuse of U.S. bankruptcy law. Cancer victims who oppose the bankruptcy settlement have said that the second bankruptcy recycles a failed legal strategy to keep their cases from being heard by juries. Circuit Court of Appeals, has said he expects to rule on whether to dismiss LTL's second bankruptcy by early August. Erik Haas, J&J's worldwide vice president for litigation, said in a statement last week that the proposed bankruptcy settlement offers a fairer and faster resolution for cancer claimants than litigation in other courts.
Persons: Johnson, LTL Management's, LTL, U.S . Justice Department's, recycles, Michael Kaplan, Kaplan, LTL's, John Kim, Jim Murdica, Mikal Watts, Erik Haas, J, Watts, Dietrich Knauth, Alexia Garamfalvi, Will Dunham Organizations: Johnson, U.S . Justice, Circuit, J, Thomson Locations: New Jersey, Trenton, Philadelphia, LTL, New York
☆ Johnson & Johnson shares rise after company proposes baby powder cancer settlement
  + stars: | 2023-04-05 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +2 min
Johnson & Johnson shares on Wednesday climbed after the company proposed paying $8.9 billion to settle thousands of claims that its baby powder and other talc products caused cancer. The pharmaceutical giant also said its subsidiary LTL Management refiled for Chapter 11 bankruptcy protection after its first attempt faced legal challenges. JPMorgan analyst Chris Schott on Thursday called the proposed settlement a positive for the company in a note. The proposed $8.9 billion settlement is also in-line with JPMorgan's $8 billion to $10 billion estimate, Schott noted. It's also unclear whether the proposed settlement will win approval in bankruptcy court, Bank of America analyst Geoff Meacham noted Thursday.
☆ J&J unit files for second bankruptcy to pursue $8.9 billion talc settlement
  + stars: | 2023-04-04 | by ( Dietrich Knauth | Industry Insight | Insights In Action | ) www.reuters.com   time to read: +1 min
Companies Johnson & Johnson FollowApril 4 (Reuters) - A Johnson & Johnson (JNJ.N) subsidiary filed for bankruptcy a second time on Tuesday, seeking to complete a $8.9 billion settlement of lawsuits alleging that its baby powder and other talc products cause cancer. J&J subsidiary LTL Management's first bankruptcy was dismissed earlier on Tuesday, after an appellate court ruled that the neither J&J not LTL were in the type of "financial distress" that made them eligible for bankruptcy. The new bankruptcy filing includes a proposal to pay $8.9 billion over 25 years to resolve all current and future talc claims, according to J&J. The settlement is supported by over 60,000 current claimants, J&J said in a statement. J&J said that its settlement is not an admission of wrongdoing, nor an indication that the company has changed its longstanding position that its talcum powder products are safe.
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