JNJ - Johnson & Johnson Wants To Deal With Talc Lawsuit Overhang Proposes $6.5B Settlement Package | Benzinga
Wednesday, Johnson & Johnson (NYSE:JNJ) announced its intention to proceed with a $6.475 billion settlement to resolve numerous lawsuits related to ovarian cancer arising from cosmetic talc litigation.
The Plan provides for a three-month solicitation period during which ovarian claimants are informed of its terms and will have the opportunity to vote – an opportunity denied in prior bankruptcy cases.
If 75% of claimants vote in favor of the Plan, a Company subsidiary may file a consensual “prepackaged” Chapter 11 bankruptcy to secure its confirmation.
In January, Johnson & Johnson announced a tentative settlement to address investigations by 42 U.S. states and ...