The company tried to dodge tens of thousands of lawsuits by essentially faking bankruptcy.
marked Johnson & Johnson’s effort to avoid liability for its talc-based baby powder products. Tens of thousands of people have sued the company, claiming it knew these products contained asbestosovarian cancer and mesothelioma. In response to a slew of lawsuits from patients and their survivors across the country, J&J created two new companies. It offloaded all its liabilities into one, called LTL Management, and shifted all its assets into another, called J&J Consumer Inc.
”But that’s where everything started going off the rails for J&J. The bankruptcy court for the Western District of North Carolina noticed. For example, “the employees of the Debtor are all employees of Johnson & Johnson Services, Inc., a New Jersey corporation,” and “the Debtor’s assets involve no operation of a business in North Carolina.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Johnson & Johnson Can’t Use Bankruptcy to End Cancer Lawsuits, Court RulesJohnson & Johnson attempted to use a Chapter 11 filing to shut out some 40,000 cancer lawsuits stemming from their talc-based baby powder formula.
Read more »
Court tosses bankruptcy petition by Johnson & Johnson's talc unitAn appeals court on Monday dismissed the Chapter 11 bankruptcy petition of J&J's talc subsidiary, which the company formed to resolve thousands of lawsuits.
Read more »
Johnson & Johnson can't invoke bankruptcy to stop cancer lawsuits, court saysA federal appeals court has ruled that Johnson & Johnson cannot use bankruptcy court to resolve civil lawsuits that claim its iconic baby powder caused cancer.
Read more »
Avoid these three scammy apps still listed in the Play Store (20 million+ installs)Three apps still listed in the Google Play Store promise to reward you when you reach certain fitness goals; instead, these apps trick you into watching dozens of ads.
Read more »
New scrappage scheme offers London drivers up to £5000 | AutocarLondon drivers could be eligible for up to £5000 to scrap or retrofit their vehicle as part of Transport for London's new Scrappage Scheme
Read more »
NASA's Artemis program works to avoid repeating past launch disastersNASA's Artemis program successfully launched its first mission to the moon in November 2022, but the launch came months later than expected.
Read more »