Johnson & Johnson is proceeding with a $6.5 billion settlement in the baby powder lawsuit
Johnson & Johnson is moving forward with a $6.48 billion settlement to resolve lawsuits alleging its talc products contain asbestos and cause ovarian cancer.Summary
Johnson & Johnson confirmed on Wednesday that it will proceed with a planned $6.48 billion agreement to resolve numerous lawsuits claiming that its talc products, including baby powder, contain asbestos and lead to ovarian cancer. The deal will allow the company to resolve the lawsuits by filing for a third bankruptcy for a subsidiary. A three-month voting period will begin with the hope of reaching consensus on the settlement of all current and future claims related to ovarian cancer. These claims represent 99% of the lawsuits filed against Johnson & Johnson, including approximately 54,000 lawsuits centered around federal court proceedings in New Jersey. Johnson & Johnson expressed assurance that the agreement will receive enough support to meet the 75% threshold required for a bankruptcy settlement, effectively putting an end to all litigation and preventing any future lawsuits.
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