Tag Archive for: LTL Management

Johnson & Johnson on Tuesday cautioned investors over the lingering impact of inflation-driven costs this year as the healthcare conglomerate issued a conservative full-year profit forecast, and its shares fell more than 2%.

Johnson & Johnson has agreed to pay $8.9 billion to settle tens of thousands of lawsuits alleging that talc in its iconic Baby Powder and other products caused cancer, the company said. The amount dwarfs J&J’s original offer of $2 billion.

The bankruptcy case filed by Johnson & Johnson’s subsidiary shouldering talc-related lawsuits will soon be dismissed unless a U.S appeals court agrees to reconsider its decision to nix the company’s attempt to offload the litigation into Chapter 11 proceedings, a federal judge said on Tuesday.

A U.S. bankruptcy judge has blocked New Mexico and Mississippi from pursuing lawsuits accusing Johnson & Johnson of misleading consumers about the safety of its talc products, such as its baby powder, for now.

A 3-judge panel questioned the legitimacy of Johnson & Johnson’s plan to form a subsidiary company with the purpose of absorbing legal liabilities from talc-related lawsuits.

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.