The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange on May 29, 2019.People suing Johnson & Johnson over the company's talc products urged an appeals court on Monday to revive their claims, saying the profitable company should not be allowed to use a bankrupt subsidiary to block lawsuits alleging the products cause cancer.
That restructuring strategy, known as the "Texas two-step," paused about 38,000 lawsuits J&J was facing alleging that its baby powder and other talc-based products contain asbestos and caused mesothelioma and ovarian cancer. Lamken said the court should not make a general ruling about whether bankruptcy is "better" because its protections should be reserved for companies that are in financial distress and need to reorganise.
Litigating in other courts creates a huge variety of outcomes. Some plaintiffs will hit home runs and win large verdicts, while "most people won't even get a turn at bat," with some dying before their cases go to trial, LTL attorney Neal Katyal said. But more than 1,500 talc lawsuits have been dismissed without J&J paying anything and the majority of cases that have gone to trial have resulted in defence verdicts, mistrials or judgments for the company on appeal, according to LTL's court filings.
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