Bankruptcy
Aug. 24, 2023
Bankruptcy complications scuttle J&J’s $8.9B talc deal, lawyer says
The company’s latest attempt to file for bankruptcy in New Jersey has since been dismissed, with a stay on civil litigation lifted as of Aug. 11, Judge Stuart M. Rice said.
An $8.9 billion settlement between Johnson & Johnson and thousands of plaintiffs who claim their talcum powder made them sick is no longer on the table, plaintiffs’ counsel told a Los Angeles County Superior Court judge on Wednesday.
Melanie M. Palmer, of Kiesel Law LLP in Beverly Hills, told Judge Stuart M. Rice that the settlement had been intended for submission through since-dismissed bankruptcy proceedings against the pharmaceutica...
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