Johnson & Johnson Clears Hurdle in Baby Powder Lawsuit Settlement
Plan for $65 Billion Accord Gains Plaintiff Support
Court Approval Still Needed
In a significant development, Johnson & Johnson (J&J) has secured a crucial milestone in its plan to resolve numerous lawsuits related to its baby powder products.
On Wednesday, the company announced that it has obtained plaintiff support for its proposed $65 billion settlement. This settlement aims to address thousands of lawsuits alleging that J&J's talc-based baby powder caused cancer.
A bankruptcy plan to resolve these lawsuits had previously been rejected by an appeals court three times. However, sources indicate that J&J has now met the requisite threshold of support for the plan to proceed.
Settlement Details
- 65 billion total payout
- Resolution for thousands of lawsuits
- Allegations include cancer caused by talc
Court Approval Pending
Despite obtaining plaintiff support, J&J's settlement plan still requires court approval.
A key hurdle will be overcoming objections from the New Jersey Attorney General, who has twice blocked J&J's attempts to seek bankruptcy protection for one of its subsidiaries.
If the court approves the settlement, it will represent a major step towards resolving a long and contentious legal battle.
Company Statement
In a statement, J&J said it is "committed to working with the plaintiffs and other stakeholders to achieve a fair and equitable resolution."
The company has maintained that its talc-based baby powder is safe and does not cause cancer.
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