{"id":1829545,"date":"2023-01-31T06:20:34","date_gmt":"2023-01-31T11:20:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1829545"},"modified":"2023-01-31T06:25:38","modified_gmt":"2023-01-31T11:25:38","slug":"court-rejects-jj-bankruptcy-strategy-for-tens-of-thousands-of-baby-powder-lawsuits","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/court-rejects-jj-bankruptcy-strategy-for-tens-of-thousands-of-baby-powder-lawsuits\/","title":{"rendered":"Court Rejects J&amp;J Bankruptcy Strategy for Tens of Thousands of Baby Powder Lawsuits"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcourt-rejects-jj-bankruptcy-strategy-for-tens-of-thousands-of-baby-powder-lawsuits%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1829545&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>A U.S. court on Monday rejected pharmaceutical company Johnson &#038; Johnson\u2019s bankruptcy strategy to resolve billions of dollars in <a href=\"https:\/\/www.theepochtimes.com\/t-lawsuits\">Suit cases<\/a> that alleged the firm\u2019s talc products cause cancer.<\/p>\n<p>A decision handed down by the U.S. Third Circuit Court of Appeals in Philadelphia dismissed a Chapter 11 petition filed by a recently created J&#038;J subsidiary LTL Management in October to address more than 38,000 lawsuits from plaintiffs alleging the company\u2019s baby powder and other talc products caused cancer.<\/p>\n<p>J&#038;J, before bankruptcy filing, faced costs of $3.5 billion in verdicts, settlements, and one in which 22 women were ultimately awarded a judgment in excess of $2 billion.<\/p>\n<p>\u201cApplied here, while LTL faces substantial future talc liability, its funding backstop plainly mitigates any financial distress foreseen on its petition date,\u201d A three-judge panel was formed on Monday. They observed that \u201cgood intentions\u201d Protecting the environment is important. \u201cJ&#038;J brand or comprehensively resolve litigation \u2026 do not suffice alone,\u201d They wrote.<\/p>\n<p>Tylenol is manufactured by the company. The company also makes a wide-used product, a spokesperson <a href=\"https:\/\/www.theepochtimes.com\/t-covid-19\">COVID-19<\/a> J&#038;J said that vaccine will be appealed. The spokesperson maintained that the company\u2019s talc products are safe and don\u2019t cause cancer.<\/p>\n<p>\u201cAs we have said from the beginning of this process, resolving this matter as quickly and efficiently as possible is in the best interests of claimants and all stakeholders,\u201d J&#038;J spokeswoman Allison Fennell <a href=\"https:\/\/www.cnbc.com\/2023\/01\/30\/us-court-rejects-jj-bankruptcy-strategy-for-tens-of-thousands-of-talc-lawsuits.html\">Submitted<\/a>\u00a0news outlets in response to Monday\u2019s ruling. \u201cWe continue to stand behind the safety of Johnson\u2019s <a href=\"https:\/\/www.theepochtimes.com\/t-baby-powder\">Baby Powder<\/a>, which is safe, does not contain asbestos, and does not cause cancer.\u201d<\/p>\n<p>The decision throws into doubt J&#038;J\u2019s long-planned strategy for disposing of talc litigation after it lost a bid to reverse a watershed verdict that eventually awarded more than $2 billion to 22 women who blamed their ovarian cancer on baby powder and other talc products.<\/p>\n<figure id=\"attachment_3839925\" class=\"wp-caption alignnone\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2021\/06\/01\/talc-powder-johnson-and-johnson-1200x800.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"lazy size-medium wp-image-3839925\" src=\"https:\/\/www.theepochtimes.com\/assets\/themes\/eet\/images\/white.png\" data-src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/talc-powder-johnson-and-johnson-600x400-1.jpg\" alt=\"Bottles of Johnson &#038; Johnson baby powder\" width=\"600\" height=\"400\"   style=\"display:none\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-3839925\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/talc-powder-johnson-and-johnson-600x400-1.jpg\" alt=\"Bottles of Johnson &#038; Johnson baby powder\" width=\"600\" height=\"400\" \/><\/noscript><\/figcaption><\/a> On Oct. 15, 2015, Johnson &#038; Johnson baby Powder bottles were on display at a New York drugstore shelf. (Lucas Jackson\/Reuters)<\/figure>\n<p>Attorneys for people who claim J&#038;J\u2019s products caused their cancers welcomed Monday\u2019s ruling.<\/p>\n<p>\u201cThe Third Circuit\u2019s decision is a point-by-point rejection of J&#038;J\u2019s attempt to pervert the bankruptcy system and trample the constitutional right to a jury trial of all Americans harmed by deadly products,\u201d Jon Ruckdeschel, an attorney representing victims of mesothelioma said in a <a href=\"https:\/\/www.ft.com\/content\/aa0c99fc-8730-49e0-9460-e41f5f37cd5f\">Statement<\/a> Subscribe to the Financial Times.\u00a0 \u201cBankruptcy courts are for honest companies in financial distress, not billionaire mega-corporations like J&#038;J, 3M, and Koch Industries that seek to close courthouse doors to their victims.\u201d<\/p>\n<p>Last September, attorneys representing approximately 7,000 talc personal injury claimants wrote (<a href=\"https:\/\/www.ltltalccommittee.org\/wp-content\/uploads\/2022\/09\/9-6-2-22-3d-Cir-Appeal-Dkt-No-131-AI-Reply-Brief.pdf\">pdf<\/a>() \u201cbankruptcy court relied on unsupported speculation and improper evidence\u201d  \u201cused unfounded estimates.\u201d<\/p>\n<p>According to a University of Richmond legal scholar, J&#038;J will now need to appeal to the U.S. Supreme Court. \u201cThe only prospect left for J&#038;J is an appeal to the Supreme Court,\u201d Carl Tobias said, \u201cwhich grants review in a minuscule percentage of appeals.\u201d<\/p>\n<p>Missouri jury ordered New Jersey-based company to comply with its terms. <a href=\"https:\/\/www.theepochtimes.com\/jury-orders-jj-to-pay-4-7-billion-in-missouri-asbestos-cancer-case_2591269.html\">Pay<\/a> some $4.7 billion in damages to dozens of women who asserted their cancer was caused by the company\u2019s talc products.\u00a0The company appealed for a reduction in the payout, but it still paid more that $2 billion in damages.<\/p>\n<p>More than 1,500 talc lawsuits have been dismissed without J&#038;J having to pay anything, and the majority of cases that have gone to trial have resulted in defense verdicts, mistrials, or judgments for the company on appeal, according to the J&#038;J subsidiary\u2019s court filings.<\/p>\n<p>J&#038;J has stopped selling talc baby powder in Canada and the United States since the lawsuits won. It will end all sales of these products in the world by 2023.<\/p>\n<p>As of Monday at midday, J&#038;J\u2019s stock price was down nearly 4 percent.<\/p>\n<p><em>This report was compiled by Reuters<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A U.S. court on Monday rejected pharmaceutical company Johnson &#038; Johnson\u2019s bankruptcy strategy to resolve billions of dollars in Suit cases that alleged the firm\u2019s talc products cause cancer. A decision handed down by the U.S. Third Circuit Court of Appeals in Philadelphia dismissed a Chapter 11 petition filed by a recently created J&#038;J subsidiary &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1829548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[8722,4210,7740,4733,15948,7976,9886,5009,4158,4286],"class_list":["post-1829545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-tens","tag-baby","tag-bankruptcy","tag-court","tag-jj","tag-lawsuits","tag-powder","tag-rejects","tag-strategy","tag-thousands"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1829545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1829545"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1829545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1829548"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1829545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1829545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1829545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}