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J&J’s proposed settlement for talc would be worth 400 million dollars to US state AGs. Talc-Free Gold Bond .
Johnson & Johnson (JNJ.N) has put aside $400 million to settle U.S. state consumer protection actions as part of a broad $8.9 billion effort to settle allegations that it’s Baby Powder and other talc items cause cancer. Talc-free gold bond.
J&J subsidiaries LTL Management filed a bankruptcy plan in New Jersey late on Monday that describes how the company intends to pay different types of cancer sufferers in the bankruptcy settlement. Talc-free gold bond. J&J has said that its talc products are safe and will not cause cancer. The company is trying for a second time to resolve more than 38,000 lawsuits brought in bankruptcy and prevent new cases from arising in the near future.
LTL’s bankruptcy plan will pay $400 million into an additional trust to settle lawsuits filed in state courts by attorneys general claiming that J&J did not comply with states’ unfair practices as well as consumer protection laws by misinforming consumers regarding the safety of its talc products.
Many states had initiated consumer protection measures against J&J prior to the time that LTL’s bankruptcy filing stopped these investigations from moving forward in 2021. Talc-free gold bond. New Mexico and Mississippi had already initiated suits with Johnson & Johnson before then and states like Arizona, Maryland, North Carolina, Texas and Washington had issued subpoenas or civil investigative demands, according to LTL’s court papers.
New Mexico and Mississippi have taken steps to halt the bankruptcy of LTL along with cancer sufferers as well as their counterparts from the U.S. Justice Department’s bankruptcy watchdog. They have claimed that a lucrative company such as J&J does not qualify for bankruptcy protections meant for those struggling with debt.
The first attempt by LTL to resolve the bankruptcy-related lawsuits was dismissed after similar arguments. The U.S. appeals court decided the LTL wasn’t in “financial difficulty” and was not eligible of bankruptcy protection. Talc-free gold bond. LTL had filed for bankruptcy again in just two hours following the dismissal, saying that its second attempt was different as it was able to borrow less and more backing for an agreement.
New Mexico and Mississippi said in their motion to dismiss that LTL’s latest bankruptcy violation of the law enforcement powers of the state by attempting unilaterally to cap the liability of the company for state consumer protection measures.
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LTL’s new filings also included more information about how the company plans to evaluate and pay for cancer claims in the event that the bankruptcy plan is approved.
The maximum amount under the settlement will be $500,000 for those diagnosed with mesothelioma terminal prior to age 45 and $260,000 for those diagnosed with ovarian cancer that is terminal before age 45.
The proposed settlement offers discounts based on the nature and severity of cancer, the individual’s age, previous talc use and other factors. Talc-free gold bond. For instance someone who regularly used the talc product on a regular basis, had the family history of ovarian cancer and was diagnosed with the stage 2 ovarian cancer at age 55 could be in line for a $21,125 payout under the settlement plan.
Judge gives order to J&J and talc oppositionists to take part in settlement talks.
Following another hearing in Johnson and Johnson’s efforts to utilize a Texas Two-Step bankruptcy strategy to resolve talc litigation and federal bankruptcy judge Michael Kaplan has ordered the company and those opposing the plan to hold settlement talks, Bloomberg reports.
In its second bankruptcy effort for LTL Management, a subsidiary created by J&J to hold the claims–the company offered a settlement of $8.9 billion. Talc-free gold bond. While a firm representing plaintiffs support the settlement, a different group is opposed to the offer.
In the last week, an opposition group, known as the Official Committee of Talc Claimants requested the bankruptcy court for dismissal of the matter arguing that LTL can not be considered financially distressed.
“The filing is an unjust and legally flawed attempt by a tiny number of law firms to stop claimants from deciding on the resolution plan, a plan that the overwhelming majority of claimants support,” J&J’s litigation chief Erik Haas, said in an announcement. Talc-free gold bond. “The law firms behind the filing are pursuing financial interests which are in conflict with, contradict and are in opposition to the interests of their clients. We’ll submit an appeal in the appeals court.”
Talc-free gold bond. Clay Thompson, a lawyer for MRHFM, which has more than 80 mesothelioma patients who have sued J&J claimed that the company’s second bankruptcy try will fail.
“J&J issues press releases about how wonderful its plans are, but is demanding that plan details–including what the individual sick individuals would receive — be kept private,” Thompson said in a statement. “What does the company have to hide?”
Kaplan has instructed both sides to come up with another arrangement plan under the oversight by two mediators.
On February 20, 2022 Kaplan confirmed J&J’s recourse to Chapter 11 to hasten a settlement that would free J&J from the thousands of lawsuits related to its talcum-based products.
In January of this year, an appeals court of the federal government overturned the decision, deciding that the business could not be considered to be in “financial distress.”
The J&J’s plan to contest the U.S. Supreme Court was denied the same month, J&J filed for its second bankruptcy just two hours after. In response, Kaplan froze the lawsuits for 60 days to decide whether to allow another bankruptcy.
J&J’s unstoppable profit engine goes out of control after $6.9B talc litigation charge.
With 2 Chapter 11 attempts, J&J has purchased 19 months of which cases were placed on hold. Talc-free gold bond. J&J wants the claimants to vote on accepting their settlement. J&J will require 75% approval for the deal to pass.
Alongside the group of talc lawyers that criticized LTL’s bankruptcy plan as well, the U.S. Trustee is an arm that is part of the U.S. Department of Justice is also submitting an appeal to dismiss the second bankruptcy case of LTL.
In a statement this week, U.S. Trustee Andrew R. Vara wrote that the the bankruptcy court are “open to honest but unfortunate debtors.” Those doors “are not available to anyone who do not have a legitimate bankruptcy purpose or that seek to take advantage of the bankruptcy process to delay or hinder their creditors,” Vara continued.
On the other hand, J&J maintains there is no conclusive evidence that its Talc products, which includes its famous baby powder, can cause cancer. J&J has taken the products from the market and will first launch them for North America in 2020–and the rest of the world this year.
J&J seeks to avoid the cost of going to court. It has prevailed in most of the cases that have been resolved during trial, however, certain losses have been extremely severe.
A highly-publicized trial in Missouri produced a $4.7 billion verdict against the drug company and was later lowered to $2.1 billion following appeals.
Johnson & Johnson faces high-stakes hearing over ‘Texas Two Step’ talc strategy: report
Overall, J&J has lost nine cases involving talc, which are being appealed or settled. In 41 trials 32 have ended in a win by J&J, a mistrial or verdict of a plaintiff dismissed after appeal. Talc-free gold bond. The company also in 2020 negotiated to settle around 1000 cases at a cost of 100 million dollars, Bloomberg stated at the time.
Talcum Baby Powder Ovarian Cancer Lawsuit – Talc-Free Gold Bond
Our lawyers are handling baby powder lawsuits in all 50 states. The lawsuits involving talcum powder on behalf of Johnson & Johnson have been going on for a long time. Talc-free gold bond. The lawsuits allege that prolonged use of talcum powder (or “talc”), the active ingredient in products like Baby Powder and Shower to Shower as well as other products, may cause ovarian cancer among some women.
This page provides the J&J update on the talc power litigation and explains how the forthcoming bankruptcy ruling impacts the ultimate settlement amount of these cases of ovarian cancer.
Have you reached the deadline by which you to start a lawsuit against talcum powder? Many who believe the statute of limitations has passed to sue Johnson & Johnson are wrong. Contact us now at 800-553-8082 or request a no-cost and quick case review online.
Johnson and Johnson Talcum Powder Lawsuit Update 2023 – Talc-Free Gold Bond
June 2, 2023 Update: During an asbestos talc court trial held which took place in California yesterday, some technical issues disrupted the opening statements of the defense attorneys. Talc-free gold bond. Jurors who were watching from home on Zoom, did hear Johnson & Johnson’s lawyer voice his doubt about the 70s research affirming the presence of asbestos in their product prior to the trial was abruptly closed.
Meanwhile, the plaintiff had the opportunity to present an initial witness Arthur Langer. Langer explained that the occurrence of other minerals alongside the talc mineral is a given. He said that his team had notified J&J in the year 1971 about the presence of chrysotile asbestos in the company’s talc, albeit with lesser than 0.1 percent. The asbestos was discovered by him in 1976.
June 1st, 2023 Update Talc-free gold bond. This is the first court trial that has taken place since J&J has decided to separate its talc division, and then declare bankrupt marks an important moment of the ongoing litigation controversy. The trial began on Tuesday in the harrowing trial of a young plaintiff, diagnosed with an extremely rare and aggressive form of mesothelioma earlier this year. which both sides of the argument agree is a tragedy of a different kind.
Opening statements laid bare sharp differences in the two sides’ story. The attorney for the plaintiff took aim towards Johnson & Johnson, alleging the use of deceptive tactics in research practices and throughout the litigation procedure. In the words of attorney the company tried to manipulate the definition of asbestos despite internal documents dating back to the year 1978 and 1994 indicating that asbestos fibers found in plaintiff’s tissue are included.
Johnson &J’s tangled $8.9 billion settlement offer hangs in the balance as we progression of this trial. Despite the particularity of this mesothelioma-related case and the unique issues it faces compared to other lawsuits involving talcum powder, a verdict favoring the plaintiff could be an enormous setback for J&J’s hopes for broad acceptance of their proposed settlement among plaintiffs.
May 31st 2023 Update: Johnson & Johnson’s bankrupted talc unit has was able to defend it’s two-time Chapter 11 filing in the opposition of injured talc claimants. In an appeal to the New Jersey bankruptcy court, J&J’s subsidiary claimed that the case was fundamentally different from the previous filing. The subsidiary emphasized the record-breaking commitment to $8.9 billion by J&J the largest ever settlement in the history of a mass tort bankruptcy. Talc-free gold bond. There was no mention of how the amount of the settlement implies that it is an equitable settlement. J&J also claimed that it received support from a variety of plaintiffs’ law firms representing over 600,00 claimants. It is difficult to confirm however it is likely to be incorrect.
May 24, 2023 Update: Since Johnson & Johnson’s bankruptcy in 2021 filing, the very first trial on its cosmetic talc products that are believed to comprised of asbestos is set to commence jury selection on Monday in California with Alameda County Superior Court, an historically reliable place for plaintiffs. The plaintiff claims his mesothelioma is the result of asbestos exposure from J&J’s products, an allegation the company has denied. The trial also involves six retailers who are accused of selling talc-containing products.
May 22nd, 2023 Update Lawyers in the 2nd J&J Talc bankruptcy are disputing who should be chosen to fill the post of the future claims representative, which is vitally essential to the resolution of the talc claims. Talc-free gold bond. Randi Ellis, a lawyer who is frequently involved in MDLs throughout the country, was appointed as the claims representative during the first bankruptcy. J&J’s defense group wants Ellis to be appointed to that role again, but lawyers for the plaintiffs in talc are arguing on the grounds that Ellis has an interest conflict which should stop her from taking on that role in the future. The issue stems from the possibility that Ellis was reportedly involved in the creation of the hotly contested second bankruptcy, which raises concerns about her ability to be neutral. However, the reality is that this bankruptcy will likely to get dismissed anyway.
May 17, 2023 Update The fake company J&J put together to settle the talc litigation bankruptcy informed the New Jersey bankruptcy court that they have designated $400 million to pay the claims of states that accuse J&J of misleading marketing regarding its talc products. Talc-free gold bond. That’s an $8.5 billion settlement for cancer sufferers. It’s difficult to envision any scenario in which J&J can push these baby powder settlements through given these numbers. While J&J’s $8.5 billion offer might seem like a huge sum at first, it does not look great when you consider the math. The settlement plan based on our rough calculations would not pay victims much more than a median settlement of $100,000 per instance. It’s not enough.
May 15 2023 Update: J&J could be facing suit from an advocacy group that represents cancer patients. Talc-free gold bond. The group argues that J&J intentionally canceled an $61.5 billion funding agreement that it had with its company subsidiary LTL Management LLC, in order to create a false sense of financial distress and verify the unit’s Chapter 11 bankruptcy filing. The group claims this decision is equivalent to a fraudulent transfer of right to compensation for victims. They are planning to study J&J’s actions after the announcement of the dismissal of LTL’s first bankruptcy case.
May 10 2023 Update: Next week in the U.S. Bankruptcy Court in New Jersey will hear oral arguments on a motion to dismiss the second bankruptcy petition filed from J&J LTL Management, J&J’s subsidiary. LTL Management. In the meantime, however the bankruptcy has issued an order calling for both parties to take part in a new settlement mediation with the hopes of achieving the global settlement can be brokered.
May 5th, 2023 Update: The talc manufacturer Whittaker, Clark & Daniels filed for Chapter 11 bankruptcy due to numerous lawsuits alleging its talc products cause cancer due to asbestos exposure. Talc-free gold bond. Over 2,700 individuals have sued the firm and the company was paying $1 million per month for legal defense. The company’s recent $29 million settlement in South Carolina forced it to file for bankruptcy protection, arguing for equitable distribution of assets between talc claimants rather than being taken in the hands of the receiver. Other suppliers of talc have been forced to file for bankruptcy as a result of the litigation.
May 4, 2023 Update: U.S. The bankruptcy Judge Michael Kaplan has directed Johnson & Johnson to restart talks on settlement with lawyers who turned down the company’s $8.9 billion offer for settlement. The court in Trenton, New Jersey yesterday, the parties gathered in court to discuss next steps to take in this second case of bankruptcy. Judge Kaplan encouraged further settlement talks.
This is the solution to resolve these claims for J&J. A baby powder settlement could be made. Talc-free gold bond. However, it’ll require additional money – perhaps billions of dollars from Johnson & Johnson.
Lawyers are divided over whether to accept the proposal and not every client sees the issue in the same manner their lawyer does. This second case of bankruptcy is expected to go nowhere the judge Kaplan has scheduled a hearing for June to determine whether to close the case for the third time.
May 3 2023 Update: A group representing cancer victims who are suing Johnson & Johnson (J&J) demanded that they request that the Third Circuit halt the bankruptcy filed by J&J subsidiary LTL Management, claiming it is a bid to stop the litigation surrounding talc-based products. The group of talc claimants submitted a motion on Tuesday, asking for the Third Circuit to consider their case and then send it back the lower court, with instructions to dismiss the bankruptcy. Talc-free gold bond. The committee also requested that the lawsuit against the halted torts of J&J be allowed to proceed.
LTL requested Chapter 11 protection once again following the bankruptcy filing it made earlier was rejected in the Third Circuit earlier this year which offered a $8.9 billion payment. The committee says that the recent ruling which allowed the second Chapter 11 to continue, and also stopping trials against J&J is a reason for an immediate Third Circuit review. The US Trustee also asked that it be requested that the New Jersey bankruptcy court dismiss the LTL bankruptcy case. J&J’s global vice president of litigation, Erik Haas, was quoted by Bloomberg as saying that J&J intends to file a statement in the appeals court declaring the filing an “desperate and legally flawed move” by a few of law firms that have different financial interests.
May 1 2023 Update: A common question that people ask is how could plaintiffs and their attorneys turn down $8.9 billion. That’s of course an immense amount of money. But there are a lot of victims. Talc-free gold bond. They are a great claims for plaintiffs. We were reminded recently when two talc cases led to huge verdicts for plaintiffs. In February the mesothelioma case involving talcum powder trial in Oregon led to the verdict worth $18.1 million. A month later, another talc mesothelioma case went to trial at South Carolina and resulted in an award of $29 million for the plaintiff. It was the same defendant as in these cases: Whittaker, Clark & Daniels Inc. which is one of the leading producers of talc in the U.S.
April 30, 2023 Update: When J&J initially attempted to pull the talcum powder litigation into bankruptcy, it did so with an offer to reserve $2 billion for settlements. The amount was absurdly low. All of the talc plaintiffs agreed with it. This time, J&J has increased the offer to $8.9 If the talc plaintiffs agree to a bankruptcy settlement and they also have the support of a substantial part of the talc-related plaintiffs and their lawyers. Talc-free gold bond. But with 75% of plaintiffs of talc are required for bankruptcy plan approval is not an easy task since there are so many lawyers with huge inventories of baby powder litigations opposed towards the agreement.
What can be done to end the impasse? More billions.
April 25 2023, Update Talc cancer claimants have demanded a judge dismiss the Chapter 11 case filed by LTL Management LLC, a absurdly fabricated Johnson & Johnson subsidiary, declaring that the company isn’t financially distressed. LTL has filed for Chapter 11 to settle tens of thousands of claims that J&J’s baby powders caused cancer. Talc-free gold bond. In the end, however, the 3rd Circuit dismissed its first Chapter 11 case in January The court ruled that the company wasn’t eligible for bankruptcy relief since it did not show financial trouble.
The claimants contend that the second Chapter 11 case is an overreach of the bankruptcy system, and that the case is being handled in bad good faith. J&J states that the bankruptcy settlement is backed by “significant backing” from firms representing approximately 60,000 people who are claiming. It’s safe to say that plaintiffs’ lawyers and victims ‘ lawyers are not united over this $8.9 billion deal.
April 21, 2023 Update: A bankruptcy judge ruled in favor of Johnson & Johnson must face new lawsuits alleging that it sold a baby powder that contained a chemical that causes cancer. Even though trials for the lawsuits involving talc are delayed for a minimum period of 60 days however, new lawsuits may be filed, and lawyers can begin preparing their cases. Talc-free gold bond. Judges expressed doubt about J&J’s ridiculous effort to revive its strategy with a second bankruptcy case.
April 13th 2023 update: the biggest news is the $8.9 billion over the next 25 years offer for settlement. Lawyers representing cancer patients in the MDL class action have pledged to fight the settlement with talc claimants. Why? They argue that it’s not enough money for those suffering from cancer who are 70,000. Talc-free gold bond. The lawyers say that J&J should negotiate a bigger settlement or pursue individual claims in the event that the latest bankruptcy is declared unconstitutional.
There is a different group of lawyers that is not part of the leadership group in that class action. The lawyers collectively have accumulated tens of thousands of cases. They want to settle for what many argue is far less than what these victims deserve. Their argument seems to be twofold. First, they argue the settlement – which amounts to the equivalent of $100,000 per plaintiff – is fair.
This is an argument that is difficult to make. However, their second argument has more force: victims should now not wait and they want the money immediately.
April 12, 2023 Update: People are looking for ways J&J can file for bankruptcy once more. The answer is complex and complicated. Let’s try to clarify the issue in a simple way.
Johnson & Johnson asserts that bankruptcy is the only means to resolve both current and future talc lawsuits conclusively. Also, it believes it can pay less should there be an element of bankruptcy that puts pressure to settle. Talc-free gold bond. Driving past the 400-year span of American history, the firm asserts that bankruptcy benefits all parties because it distributes settlements more equally and effectively than trial courts in which some litigants receive substantial settlements while others get nothing.
The basic tenet of this 3rd Circuit decision was this isn’t a case that involves one that makes a profit, but an entity to assume the legal risk and declare bankruptcy – Congress contemplated when drafting the Bankruptcy Code. It also clarified the company was financially crisis due to the fact that J&J offered unlimited financing.
So J&J decided to go with the unlimited funding part of the deal and did not promise to offer unlimited funding for the litigation. The company says that its revised financing arrangements with its subsidiary address appeals court’s concerns, while offering funds to pay claims. In the hope that offering victims less money would solve the underlying issue.
Lawyers representing cancer victims who oppose the deal counter this by arguing that the plaintiff is countering legal nonsense legal nonsense: J&J fraudulently transferred $50 billion of assets from LTL Management to circumvent the appeals court’s earlier ruling. Hyperbole did not go unnoticed attorneys representing the victims claim it the largest “fraudulent transfer in United States history.”
Notwithstanding the legal mumbo jumbo, J&J does not really think that the bankruptcy will endure. It is however a method to push for this $8.9 billion settlement and keep the pressure on plaintiffs.
April 10 2023 Update: Bloomberg has an interesting piece on a law that has been passed that has been passed in New Jersey that is shedding new light on litigation funding in the baby powder class action lawsuit. Funders for litigation Virage Capital Management and TRGP Capital invested in hundreds of claims from Johnson & Johnson (J&J) concerning talc products in exchange for a percentage of any settlements. J&J is now willing an offer of $8.9 billion in settlements for all lawsuits.
The involvement of the funders is public knowledge because of an New Jersey court rule requiring the release of certain details about outside funding backers. The rules aim to respond to the increasing calls for the regulation of lawsuit funders. J&J has to deal with more than 60,000 lawsuits when you combine federal and state infant powder litigation. Third-party funding in mass tort claims has both pros and pros and. But there is no question that we are seeing the ways that third-party funding can even the playing field between individual and large corporations in the courtroom.
April 4, 2023 Update: It’s enjoyable to see the worm turn in this case. J&J has taken another blow this week, when it was found that the Third Circuit denied J&J’s request to continue the automatic stay in the meantime that J&J appeals an order granting bankruptcy at the U.S. Supreme Court. It has stopped hundreds of cases involving talcum powder and stopped new lawsuits from arising ever since J&J started the controversial process to spin the talc liability into a bankrupt subsidiary over one year in the past. Talc-free gold bond. When it was decided that the 3rd Circuit ruled that this bankruptcy was not legal some months ago, the stay was revoked. J&J wanted to see it continue in the meantime of its SCOTUS appeal. But the answer was no.
April 1st, 2023 Update Johnson & Johnson announced it will appeal its 3rd Circuit bankruptcy loss to the U.S. Supreme Court last week. The chance is that the Supreme Court is willing even to accept the appeal? Low.
March 16 2023 Update: With the bankruptcy stay having been in effect, the first new cases were filed and incorporated into the talcum powder class action MDL in just over a year. Seven new talc lawsuits have been brought into the MDL in the past month increasing the number of cases in the pending process up to 37,522.
February 25 2023 Update 2023 Update: A Congressmen from Tennessee is now requesting that the U.S. Government Accountability Office (GAO) launch an investigation into the amount J&J products containing talc have cost the government in the years.
in a letter to the GAO, Rep. Steven Cohen (D-Ten.) has accused J&J of failing to recognize the dangers of its talc product for years while tax dollars were utilized to treat people injured by exposure to the chemicals. The lawsuit comes just a few weeks after J&J’s major loss in the 3rd Circuit Court of Appeals.
Talc-free gold bond. J&J needs to start making fair settlement offers to victims to begin to put all of this behind it. This is a disgrace to one of the world’s greatest businesses.
February 14 2023 Update: At a hearing today in New Jersey, U.S. Bankruptcy Judge Michael Kaplan announced his intention in light of the ruling of 3rd U.S. Circuit Court of Appeals ruling to dismiss the bankruptcy case.
You May be Entitled to Significant Compensation Talc-free gold bond. Johnson & Johnson powders were proven to contain asbestos (a cancer causing agent) and the company failed to notify users of the cancer risk. $2 BILLION has already been awarded to claims. Free To File! No Fees Unless A Settlement Is Awarded!
