Reported 18 days ago
Johnson & Johnson's subsidiary, Red River Talc, has filed for bankruptcy for the third time to advance a proposed $10 billion settlement related to lawsuits claiming that its talc products caused cancer. Facing over 62,000 lawsuits, J&J argues that the settlement, supported by 83% of claimants, is fair, but it is met with opposition from some attorneys who accuse the company of manipulating the bankruptcy system. The settlement aims to pay claimants over 25 years, with a present value of around $8 billion.
Source: YAHOO