Reported about 1 month ago
Johnson & Johnson is making a third attempt to use the controversial 'Texas two-step' strategy in bankruptcy court to manage ongoing lawsuits claiming its talc products caused cancer. The company aims to limit settlement claims to $8 billion through a subsidiary while asserting that most claimants support the settlement offer. However, critics argue that the actual support among claimants is significantly lower and question the legitimacy of using bankruptcy to shield J&J's assets from legal liabilities.
Source: YAHOO