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...But J&J took it a step further, by filing not the whole $350bn company but a contrived subsidiary. The company had said it would pay up to $60bn of liability....
...J&J, which has repeatedly denied that its talc-based products cause cancer, said the new plan “differs significantly” from its previous attempts....
...J&J is seeking a “pre-packaged” bankruptcy, allowing the company to expedite the Chapter 11 process if 75 per cent of plaintiffs back the move....
...The company’s first attempt to use the so-called “Texas two-step” manoeuvre to split off and settle thousands of cases alleging talc powder caused cancer had been rejected in January by the Third US Circuit...
...Late on Friday, a New Jersey bankruptcy court ruled that the big pharma company could not pursue a bankruptcy deal with tens of thousands of consumers who claim its talc powder caused serious illness....
...Co-operation between the superpowers has advanced in some areas, notably on curbs on the sale of fentanyl precursors by Chinese companies, since a rapprochement in November, when US President Joe Biden met...
...A US judge temporarily halted tens of thousands of legal claims that Johnson & Johnson’s talcum powder causes cancer from proceeding to trial on Thursday in a move that hands the company more time to agree...
...What does diversity and inclusion really mean in a modern workforce — and what is the right approach for companies to take towards these issues?...
...Lender Silverstein Capital Partners initiated foreclosure procedures against Stern’s company, JDS Development Group, for defaulting on a $235mn mezzanine loan. What next for the polarising tower?...
...The UK-listed drugmaker bought oncology-focused Tesaro in 2019 and Sierra Oncology in 2022, which listed in 2012 and 2015 respectively....
...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...
...GM has delayed plans to build electric versions of its Chevrolet Silverado and GMC Sierra trucks....
...This represented a second attempt to resolve thousands of claims for the alleged carcinogenic properties of talc powder. The first case was dismissed earlier this year....
...LTL, the unit created by J&J to house the talc claims, would again file for bankruptcy in order to facilitate the settlement, the company said....
...company in 2016, and charged the defendants in June....
...He pointed to a 2019 decision to cancel mining contracts such as those of China’s Shandong Iron & Steel Company and US-owned Sierra Leone Mining Company, both of which operate large iron concessions, in...
...The company is eager to resolve the uncertainty regarding the talc claims before it spins off its consumer health division in coming months....
...The company has said its talc is asbestos free and had not caused cancers but argues that settling current and future claims in the bankruptcy system would be preferable to fighting talc claims in the courts...
...The latter created a talc liabilities subsidiary to file for bankruptcy. Aearo had always been a real business within 3M....
...Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder....
...But when a Missouri court ordered J&J to pay more than $2bn to a group of nearly two dozen women who claimed their cancer was caused by its talc, the company adjusted its strategy....
...of goods sold by the company....
...The most prominent project Burnett has been working on is Ionic Originals, sonically pristine, one-of-a-kind, physical recordings, through his company NeoFidelity....
...So the company, if you remember, it claimed it had the support of a majority of talc claimants for a settlement....
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