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J&J Eyes Bankruptcy Maneuver in Bid to Skirt Liability in Baby Powder Lawsuits

Posted By: CrystalRiver
Date: Monday, 19-Jul-2021 18:56:31
www.rumormill.news/177285

07/19/21

BIG PHARMA › NEWS

J&J Eyes Bankruptcy Maneuver in Bid to Skirt Liability in Baby Powder Lawsuits

Johnson & Johnson is reportedly considering using what legal experts call the “Texas two-step” bankruptcy law, a maneuver that would allow the company to create a new entity housing talc liabilities that would then file for bankruptcy to halt litigation.

By
Megan Redshaw

Johnson & Johnson (J&J) is exploring a plan to offload liabilities from widespread baby powder litigation by creating a new business that would then seek bankruptcy protection, Reuters reported.

During settlement discussions over its talc-containing baby powder, a J&J legal representative told plaintiffs’ lawyers the company could pursue placing a subsidiary in bankruptcy as part of a strategy to settle thousands of claims linking the product to ovarian cancer.

https://childrenshealthdefense.org/defender/%e2%80%8bjohnson-johnson-bankruptcy-liability-baby-powder-lawsuits/
-------------------------------
dedicated to a friend from long ago whose mom had cancer from this product, Love You CB.

Many Blessings,
CrystalRiver





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