The deal has divided lawyers representing cancer victims, many of whom claim that J&J has created the illusion of widespread support for a settlement that would deny plaintiffs just compensation.
Johnson & Johnson is attempting to use the second bankruptcy of its subsidiary LTL Management to resolve all current and future claims stemming from its talc products.
LTL quickly filed for bankruptcy again, arguing that its second effort has won more support from plaintiffs.
The proposed settlement would resolve all of those unfiled claims, as well as any future claim alleging that a J&J talc product caused cancer.
Mikal Watts, an attorney who supports the deal and says he has 17,000 talc clients, said that he did not agree with J&J statements about "secured commitments."
Persons:
Brendan McDermid, Johnson, Johnson's, LTL's, LTL, U.S . Justice Department's, Moshe Maimon, Mikal Watts, Watts, Jim Murdica, Maimon, Murdica, Michael Kaplan, Kaplan, Dietrich Knauth, Alexia Garamfalvi, Stephen Coates
Organizations:
REUTERS, Johnson, Management, U.S . Justice, J, Thomson
Locations:
New York City, U.S, Trenton , New Jersey