Johnson & Johnson will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the US claiming its talc products caused ovarian cancer. The deal involves a third bankruptcy filing of J&J subsidiary LTL Management to resolve the lawsuits. A three-month voting period will start for claimants to agree on a settlement for nearly all current and future ovarian cancer claims related to talc. At the same time, separate arrangements will handle the remaining mesothelioma lawsuits. J&J has already resolved 95% of mesothelioma lawsuits filed to date.
Category
🗞
NewsTranscript
00:00 It's Benzinga and here's what's on the block.
00:02 Johnson & Johnson will pay $6.5 billion to settle nearly all of the thousands of lawsuits
00:07 in the U.S. claiming its talc products caused ovarian cancer.
00:10 The deal involves a third bankruptcy filing of J&J subsidiary LTL Management to resolve
00:15 the lawsuits.
00:16 A three-month voting period will start for claimants to agree on a settlement for nearly
00:20 all current and future ovarian cancer claims related to talc, while separate arrangements
00:24 will handle the remaining mesothelioma lawsuits.
00:27 J&J has resolved 95% of mesothelioma lawsuits filed to date.
00:31 For all things money, visit Benzinga.com.
00:33 [BLANK_AUDIO]