JNJ - Johnson & Johnson's Bankruptcy Tactics Are Fraudulent Plaintiffs Accuse Company Of Defrauding Cancer Victims | Benzinga
A group of cancer victims has reportedly filed a lawsuit against Johnson & Johnson (NYSE:JNJ), accusing the healthcare giant of committing fraud through its persistent efforts to use a shell company’s bankruptcy to resolve numerous lawsuits.
The plaintiffs argue that Johnson & Johnson’s bankruptcy strategy was designed to “hinder, delay, and defraud” them, effectively putting billions of dollars out of their reach and preventing them from having their day in court.
Most of the lawsuits have been brought by women with ovarian cancer, Reuters noted, while others involve individuals with mesothelioma, a deadly cancer linked to asbestos exposure.
In 2021, Johnson & Johnson employed a corporate maneuver known as the “Texas two-step” to isolate ...