Lawmaker Blasts Johnson & Johnson Talcum Powder Bankruptcy Plan on U.S. Senate Floor
Durbin said the Johnson & Johnson talcum powder bankruptcy plan should be rejected by the courts.
Durbin said the Johnson & Johnson talcum powder bankruptcy plan should be rejected by the courts.
The proposal would force Johnson & Johnson to hold a shareholder vote on whether it should continue talcum powder sales worldwide.
Bankruptcy law experts note that the filing is an abusive tactic that could have far-reaching ramifications for the legal system
The scientific opinions will be peer-reviewed and could help the FDA develop new asbestos testing regulations for the cosmetics industry.
The JPML says the stay on the litigation will not hinder the transfer of new cases into the MDL.
Four days of hearings are scheduled to consider arguments over whether Johnson & Johnson bankruptcy in the talcum powder litigation are legal and should continue
The court plans to appoint Ken Feinberg, who negotiated massive Roundup settlements and oversaw 9/11 victims compensation fund
Johnson & Johnson execs also edited the supposedly independent talcum powder risk assessment report without the FDA's knowledge, the documents reveal
A halt in the litigation and the bankruptcy maneuver may pressure plaintiffs to negotiate the creation of a trust fund which is likely to pay out far less than they could win through trials and a settlement with J&J itself
Johnson & Johnson seeks to stay the litigation, as parties complete final discovery in preparation for the first federal talcum powder bellwether trials, which are scheduled to begin in April 2022