Johnson & Johnson Proposes $8.9 Billion Settlement in Asbestos/Talc Cases:
Johnson & Johnson built a reputation on its baby powder brand, which contained talcum powder to keep your baby dry. But for years, the company has been plagued by allegations that its talcum powder contained asbestos contaminants, a known carcinogen. The company denied the claims, but in 2018, investigations from the New York Times and Reuters revealed that J&J had known about possible asbestos contamination in their talcum powder for decades and done nothing. In the wake of these revelations, J&J faces more than 60,000 lawsuits accusing its talcum powder of causing cancer and mesothelioma. The company also faces more than $3.5 billion in legal liability.
Settling the Talcum Powder Lawsuits
Now, Johnson & Johnson is proposing to earmark $9 billion to settle the talc lawsuits. Earlier this month, the company announced a plan to transfer $8.9 billion to its subsidiary LTL Management, payable over 25 years. LTL Management will refile for bankruptcy, seeking court approval for one of history’s largest product liability settlements. As part of the settlement, J&J will not admit any liability, and the company continues to claim that the lawsuits “are specious and lack scientific merit.”While the bankruptcy plan is controversial, more than 60,000 parties to the lawsuits filed against J&J are backing the new plan. The proposal also significantly increased the amount of money the company initially planned to set aside for talcum powder lawsuits, which was $2 billion. In the wake of the new proposal, settlements may move more quickly. If you have cancer you believe is related to talcum powder use, you need an experienced personal injury attorney as soon as possible.
Hire the Madeksho Law Firm
If you’re facing a cancer diagnosis related to using talcum powder, you need legal guidance immediately. Time is limited, and as these lawsuits start to settle you don’t want to be left behind. The experienced attorneys at the Madeksho Law Firm have been helping people like you get the compensation they deserve for years. Find out how we can help you. Call the Madeksho Law Firm at 888-910-6376 or contact us online. Your initial consultation is free, and you won’t pay anything unless we get compensation on your behalf.
