Health Care & Hospital Law,
Civil Litigation
Oct. 18, 2021
Plaintiffs' attorneys to fight J&J bankruptcy plan to shield 200K suits
J&J has agreed to fund a new company in amounts to be determined by a North Carolina bankruptcy judge and will establish a $2 billion trust to settle current and future claims including thousands consolidated into a federal multidistrict litigation in New Jersey and a Judicial Council Coordination Proceeding in California.
Outraged plaintiffs' attorneys vowed Friday to fight Johnson & Johnson's $2 billion bankruptcy plan that would shield it tens of thousands of current lawsuits and all future litigation involving talcum powder asbestos claims.
Johnson & Johnson announced Thursday, that its newly established company, LTL Management LLC, created "to hold and manage claims" in the nationwide talc litigation, has filed for Chapter 11 bankruptcy protectio...
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