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...But because there are thousands of talc claimants, those claimants say that’s not nearly enough....
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...“It’s going to mean a lot of disruption,” Fox Rodney’s Lewington said....
...Johnson & Johnson reported a first-quarter loss as it booked a $6.9bn charge linked to its proposal to settle tens of thousands of legal claims related to allegations its talcum powder caused cancer....
...A group of law firms representing almost 70,000 claimants who allege Johnson & Johnson’s talcum powder caused their cancers have agreed to support a $8.9bn settlement with the healthcare products company...
...“Neither Johnson & Johnson, nor any of its subsidiaries are in any financial distress....
...Johnson & Johnson has had its attempts to use the system to ringfence claims from consumers who claim its talcum powder causes cancer shut down by the bankruptcy courts twice....
...So that’s a real disadvantage to an active ETF,” says Johnson of Franklin Templeton....
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...The same issue features in several “mass tort” product liability bankruptcy cases involving the likes of 3M and Johnson & Johnson....
...A US appeals court has dismissed a bankruptcy petition filed by a unit of Johnson & Johnson, upending the healthcare company’s attempt to resolve billions of dollars of legal claims from customers alleging...
...a $8.9bn settlement with claimants....
...Johnson & Johnson’s newly formed consumer business has been targeted by claims that its talcum powder can cause cancer, days before it attempts to complete the largest US initial public offering in almost...
...The claimants, two single parents, had argued that the policy breached human rights law....
...He also co-led at trial against Johnson & Johnson where it was concluded that a financially engineered subsidiary, facing claims over illness caused by talcum powder, was “not sufficiently financially distressed...
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...By that standard, a US court has paid Johnson & Johnson a high accolade....
...They wrote: “The bill is issued in the name of the claimant’s mother (Violetta Prigozhina) who actually lives at the client’s residential address and pays the bills.”...
...& Johnson, which last year utilised a similar but slightly different bankruptcy scheme, known as the “Texas two-step”, in a bid to shield itself from almost 40,000 claims that its baby talcum powder caused...
...Johnson & Johnson, Trane Technologies and a US unit of France-based Saint-Gobain took the same path as Georgia Pacific and deployed the “Texas two-step”, which was devised by law firm Jones Day....
...Claimants have launched legal proceedings in an attempt to throw out the bankruptcy....
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