WASHINGTON – U.S. Senate Majority Whip Dick Durbin (D-IL), Chair of the Senate Judiciary Committee, delivered remarks at the Subcommittee on Federal Courts, Oversight, Agency Action, and Federal Rights hearing on “Abusing Chapter 11: Corporate Efforts to Side-Step Accountability Through Bankruptcy.” During his remarks, Durbin called out Johnson & Johnson for using a corporate bankruptcy […]
J&J secretly launched ‘Project Plato’ last year to shift liability from about 38,000 pending Baby Powder talc lawsuits to a newly created subsidiary The subsidiary company, LTL, was then put into bankruptcy in October in order for J&J to limit its financial exposure to the lawsuits Company said it placed LTL into bankruptcy to settle those claims rather […]
(Reuters) – A group of bankruptcy law professors are looking to weigh in on Johnson & Johnson’s use of the bankruptcy system to settle lawsuits alleging that its talc products cause cancer, calling the strategy a “serious abuse.” The group filed court papers on Tuesday seeking approval to submit a “friend of the court” brief in support […]
NEW YORK, Dec 16 (Reuters) – A federal judge overturned a roughly $4.5 billion settlement that legally shielded members of the Sackler family who stand accused of helping fuel the U.S. opioid epidemic, a decision that threatened to upend the bankruptcy reorganization of their company, OxyContin maker Purdue Pharma LP. U.S. District Judge Colleen McMahon […]
CLEVELAND (AP) — CVS, Walgreens and Walmart pharmacies recklessly distributed massive amounts of pain pills in two Ohio counties, a federal jury said Tuesday in a verdict that could set the tone for U.S. city and county governments that want to hold pharmacies accountable for their roles in the opioid crisis. Lake and Trumbull […]
Law360 (November 22, 2021, 6:59 PM EST) — Cancer patients seeking to hold Johnson & Johnson liable for asbestos-tainted talcum powder plan to fight a “bad faith” Chapter 11 case they say was launched solely to stave off about 38,000 lawsuits, a New Jersey bankruptcy court heard Monday. During a conference in the Chapter 11 case […]
Law360 (October 14, 2021, 6:29 PM EDT) — Johnson & Johnson said Thursday that it has sought Chapter 11 protection in North Carolina bankruptcy court for LTL Management, the subsidiary it has newly spun off to hold its cosmetic talc liability. J&J said Thursday that it was seeking Chapter 11 protection for the newly spun off subsidiary […]
People with sleep apnea and other ailments who rely on CPAP and more than a dozen devices made by Philips are facing lengthy delays for replacements. For three years, Donald Camp has used a breathing device to sleep. He has severe sleep apnea, so without this device, his breathing is obstructed and he gasps for […]
July 28 (Reuters) – A U.S. congressional panel has asked Johnson & Johnson (JNJ.N) to provide it all documents related to the company’s plans to put its talc liabilities into bankruptcy, according to a letter sent on Wednesday and seen by Reuters. Democrat Raja Krishnamoorthi, chairman of the U.S. House of Representatives Committee on Oversight and Reform’s […]
July 18 (Reuters) – Johnson & Johnson (JNJ.N) is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, according to seven people familiar with the matter. During settlement discussions, one of the healthcare conglomerate’s attorneys has told plaintiffs’ lawyers that J&J could pursue the […]