You May be Entitled to Significant Compensation Chinese gold bond lawsuit. Johnson & Johnson powders were proven to contain asbestos (a cancer causing agent) and the company failed to notify users of the cancer risk. $2 BILLION has already been awarded to claims. Free To File! No Fees Unless A Settlement Is Awarded!
J&J’s proposed settlement for talc would provide $400 million to US state AGs. Chinese Gold Bond Lawsuit .
Johnson & Johnson (JNJ.N) has put aside $400 million to address U.S. state consumer protection actions as part of a larger $8.9 billion deal to settle claims that its Baby Powder as well as other talc product causes cancer. Chinese gold bond lawsuit.
J&J affiliate LTL Management filed a bankruptcy plan in New Jersey late on Monday that details how the company intends to pay for different types of cancer sufferers in bankruptcy settlement. Chinese gold bond lawsuit. J&J has stated that its Talc products are safe, and don’t cause cancer. J&J is seeking an additional time to conclude more than 38,000 lawsuits filed in bankruptcy, as well as prevent new lawsuits from being filed in the near future.
LTL’s bankruptcy plan will pay $400 million into a separate trust for claims brought with state attorneys general alleging that J&J did not comply with the state’s unfair commercial practices and consumer protection laws by misinforming consumers regarding the safety of its talc products.
A number of states had already initiated consumer protection actions against J&J prior to the first bankruptcy filing stopped these investigations from progressing in 2021. Chinese gold bond lawsuit. New Mexico and Mississippi had already brought actions with Johnson & Johnson before then and states like Arizona, Maryland, North Carolina, Texas and Washington had issued civil investigative demands or subpoenas in LTL’s court documents.
New Mexico and Mississippi have moved to dismiss LTL’s bankruptcy, joining cancer victims and their counterparts from the U.S. Justice Department’s watchdog on bankruptcy, who have argued that a successful business like J&J can’t benefit from bankruptcy protections designed for those struggling with debt.
LTL’s first attempt at resolving the bankruptcy lawsuits was dismissed after similar arguments. In the end, a U.S. appeals court determined it was not LTL did not have “financial financial distress” and therefore not eligible under bankruptcy law. Chinese gold bond lawsuit. LTL declared bankruptcy a second time just over two hours after the dismissal, saying that the second bankruptcy was different in that it had less money available and had more support for the possibility of settling.
New Mexico and Mississippi said in their motion for dismissal that LTL’s bankruptcy renewal violates the state’s law enforcement authority by trying to unilaterally cap LTL’s liability to state consumer protection laws.
Chinese Gold Bond Lawsuit
LTL’s recent filings also provided more information about how the company would evaluate and pay for cancer claims in the event that the bankruptcy plan is approved.
The most significant payments under the settlement will be $500,000 to those diagnosed with cancer of the mesothelioma ovary before age 45. Chinese gold bond lawsuit. The second payment would be $260,000 for those diagnosed with cancer of the ovary before age 45.
From there, the proposed settlement provides discounts based on the kind and severity of cancer, an individual’s years of age, their history of using talc and other factors. Chinese gold bond lawsuit. For example someone who regularly used talc products weekly, had a family history of ovarian cancer and was diagnosed with the stage 2 ovarian cancer by age 55 might qualify for a $21,125 payout under the plan.
Judge ordains J&J, talc opponents to participate in settlement talks.
After another round of hearings in Johnson &Johnson’s attempt to use a Texas Two-Step bankruptcy strategy to settle talc lawsuits, federal bankruptcy Judge Michael Kaplan has ordered the company and those opposing the plan to hold settlement talks, Bloomberg reports.
With its second bankruptcy attempt for LTL Management, a subsidiary set up by J&J to hold the claims–the company offered a settlement of $8.9 billion. Chinese gold bond lawsuit. While a group of law firms representing plaintiffs support the settlement, a different group is against the settlement.
Earlier this week, the opposition group, dubbed the Official Committee of Talc Claimants requested the bankruptcy court for dismissal of the matter asserting that LTL cannot be regarded as to be in financial trouble.
“The filing is a desperate and legally ineffective attempt by a few of law firms to try to block claimants from voting on the resolution, which the vast and growing majority of claimants support,” J&J’s litigation chief Erik Haas, said in a statement. Chinese gold bond lawsuit. “The law firms who filed their filing are financially oriented and have conflicts that are in conflict with, differ from and oppose the interests of their clients. We’ll submit an answer in the appeals court.”
Chinese gold bond lawsuit. Clay Thompson, a lawyer for MRHFM who has more than 80 mesothelioma patients who have sued J&J, said that J&J’s second bankruptcy attempt failed.
“J&J publishes press release about how wonderful the plan is but simultaneously insisting that the details of its plan–including the treatment the individual sick individuals would receive–be kept secret,” Thompson said in an announcement. “What do they have to hide?”
Kaplan has commanded the parties to develop a new reorganization plan, under the oversight by two mediators.
As of February 2022 Kaplan confirmed J&J’s recourse to Chapter 11 to hasten a settlement that will free the company from the thousands of lawsuits over its talcum products.
However, in January of this year, a federal appeals court overturned the decision, ruling that the company was not able to be considered to be in “financial financial distress.”
When J&J’s attempt to appeal to the U.S. Supreme Court was denied on April 1, J&J declared bankruptcy about two hours later. In response, Kaplan froze the lawsuits for 60 days, allowing the company to decide whether or not to approve the second bankruptcy.
J&J’s omnipotent profit engine fails after $6.9B settlement charge for talc.
With Two Chapter 11 attempts, J&J has bought 19 months during which the cases were held. Chinese gold bond lawsuit. J&J wants the claimants to take a vote to accept their settlement. J&J will require 75% acceptance in order for the agreement to be accepted.
In addition to the gang of talc lawyers who panned LTL’s bankruptcy plan as well, the U.S. Trustee, a branch that is part of the U.S. Department of Justice was also the one to file an application to dismiss LTL’s second bankruptcy.
In a filing this week, U.S. trustee Andrew R. Vara wrote that the doors of bankruptcy courts are “open to honest, but naive debtors.” The doors “are not open to any parties that lack a legitimate bankruptcy reason or want to use bankruptcy to delay or hinder their creditors.” Vara continued.
To its credit, J&J maintains there is no evidence conclusive that its Talc-based products, such as the famous baby powder, can cause cancer. J&J has been taking the products of the market, first in North America in 2020–and the remainder of the globe later this year.
J&J seeks to avoid the expense of going to court. It has won most of the cases decided during trial, however, certain losses have been punishing.
A highly publicized trial in Missouri produced a $4.7 billion verdict against the drug maker and was later lowered to $2.1 billion after appeals.
Johnson & Johnson faces high-stakes hearing over ‘Texas Two Step’ talc strategy: report
In all, J&J has lost nine cases involving talc, which are in appeal or resolved. In 41 trials 32 have resulted in winning for J&J or a mistrial, or plaintiff verdicts that were reversed in appeal. Chinese gold bond lawsuit. The company also in 2020 negotiated to settle around 1,000 cases worth $110 million. Bloomberg published at the time.
Talcum Baby Powder Ovarian Cancer Lawsuit – Chinese Gold Bond Lawsuit
Our lawyers handle baby powder lawsuits across all 50 states. The lawsuits involving talcum powder against Johnson & Johnson have been ongoing for years. Chinese gold bond lawsuit. The lawsuits claim that the long-term use of talcum powder (or “talc”), the active ingredient in products like the Baby Powder as well as Shower to Shower which can cause ovarian cancer in some women.
This page provides the J&J Talc Power litigation update and discusses how the upcoming bankruptcy ruling affects the final settlement amount of these ovarian cancer lawsuits.
Have you reached the deadline by which you to make a claim for talcum powder? Many who believe that the statute of limitations has passed to sue Johnson & Johnson are wrong. Call us today at 800-553-8082 or request a no-cost and quick case review online.
Johnson and Johnson Talcum Powder Lawsuit Update 2023 – Chinese Gold Bond Lawsuit
June 2 2023 Update: At the asbestos talc trial that took place in California yesterday, some technical issues halted the opening statement by the defense attorneys. Chinese gold bond lawsuit. Jurors at home via Zoom, did hear Johnson &Johnson’s lawyer express doubt about the 70s research that claimed asbestos was present in their product before the proceedings abruptly ended.
The plaintiff had the opportunity to introduce the first of their witnesses, Arthur Langer. Langer explained that the occurrence of other minerals in the talc’s mineral content is inevitable. He claimed that his group was notified by J&J in the year 1971 about the presence of chrysotile asbestos within the company’s talc, albeit in lower than 0.1 percent. The asbestos was discovered by him in the year 1976.
June 1, 2023 Update: Chinese gold bond lawsuit. This is the first court trial that has taken place since J&J made the decision to split its talc section and declaring bankruptcy is a pivotal moment of the ongoing litigation saga. The trial started yesterday in the harrowing trial of a young plaintiff who was diagnosed with an aggressive and rare form of mesothelioma earlier this year. a diagnosis lawyers on both sides agree is a grave tragedy.
The opening statements exposed the stark differences in each side’s narrative. The attorney for the plaintiff took aim at Johnson & Johnson, alleging that the company employed deceitful tactics in research practices and throughout the litigation procedure. The attorney claims that, according to, the company attempted to manipulate the definition of asbestos in spite of internal documents from the year 1978 and 1994 indicating that asbestos fibers found in plaintiff’s tissue are included.
Johnson & Johnson’s precarious $8.9 billion settlement offer hangs in the balance as we progress of this trial. Despite the distinctive nature of this mesothelioma lawsuit and its distinct issues compared to the majority of talcum powder lawsuits A verdict in favor of the plaintiff could cause an unintended setback to Johnson & J’s hope of gaining broad acceptance for their proposed settlement among plaintiffs.
May 31st, 2023 Update: Johnson and Johnson’s bankrupted talc unit has is defending its two-time Chapter 11 filing in the opposition of the talc injury plaintiffs. In a written objection to the New Jersey bankruptcy court, the subsidiary argued that the situation differed fundamentally from the prior filing. The subsidiary emphasized the record-breaking commitment to $8.9 billion from J&J which is the biggest settlement ever to be made in the history of a mass tort bankruptcy. Chinese gold bond lawsuit. Not mentioned: how the amount of the settlement implies that it is an equitable settlement. J&J also claimed that it received support from a variety of plaintiffs’ law firms representing more than 600,00 claimants. It is difficult to confirm however it is likely to be incorrect.
May 24 2023 Update: In the wake of Johnson & Johnson’s 2021 bankruptcy filing, the very first trial involving the cosmetic talc products it claims to containing asbestos is set to begin jury selection on Monday, May 24, California within the Alameda County Superior Court, the most favored location for plaintiffs. Plaintiff claims that mesothelioma resulted from asbestos exposure through J&J’s products which J&J does not deny. The trial also includes six retailers accused of selling talc products.
May 22, 2023 Update: Lawyers involved in the second J&J talc bankruptcy are now disputing who should be appointed to the role of a the claims representative in the future, an important role critical to resolving claim for talc. Chinese gold bond lawsuit. Randi Ellis, a lawyer who frequently appears in MDLs throughout the United States was appointed as the claims representative in the initial bankruptcy. J&J’s defense attorneys want Ellis to be named to the position and again, but attorneys for the plaintiffs in talc are arguing due to the fact that Ellis has an interest conflict which would prohibit her from holding that position again. The dispute stems from issue that Ellis was involved in drafting the hotly litigated second bankruptcy, which raises questions about her capability to remain neutral. It’s true that this bankruptcy could be dismissed regardless.
May 17, 2023 Update The fake company J&J created for the talc bankruptcy has informed an New Jersey bankruptcy court that they have allocated $400 million to pay the claims brought by states accusing the company of deceptive advertising for its talc product. Chinese gold bond lawsuit. So that makes it an $8.5 billion settlement to cancer victims. It is hard to imagine an eventuality where J&J can push these baby powder settlements through in these figures. Although J&J’s $8.5 billion offer seems like a lot of money initially, it will not look great when you consider the math. This settlement offer based on our rough calculations – would not provide victims with much more than $100,000 per instance. This isn’t enough.
May 15th 2023 update: J&J is potentially facing a lawsuit brought by an advocacy group that represents cancer victims. Chinese gold bond lawsuit. The group argues that J&J deliberately withdrew a $61.5 billion fund-raising agreement with its subsidiary, LTL Management LLC, in order to create a false sense of financial distress and validate the unit’s Chapter 11 bankruptcy filing. The group claims this decision is a fraud transfer of the rights of compensation for victims. They plan to explore J&J’s actions in the wake of the denial of the LTL’s bankruptcy case in its first instance.
May 10, 2023 Update: Next week next week, next week, the U.S. Bankruptcy Court in New Jersey will hear oral arguments on a petition to reject the second bankruptcy filing that was filed by J&J LTL Management, J&J’s subsidiary. LTL Management. However, in the meantime it has approved an order which requires both sides to take part in a settlement mediation to see if a global settlement deal can brokered.
May 5, 2023 Update: The talc manufacturer Whittaker, Clark & Daniels filed for Chapter 11 bankruptcy due to numerous lawsuits alleging that its Talc products caused cancer through asbestos exposure. Chinese gold bond lawsuit. Over 2,700 individuals have sued the company and the company was paying $1 million per month on legal defense. The company’s most recent $29 million settlement that was handed down in South Carolina forced it to file for bankruptcy protection, arguing for equitable distribution of assets to talc claimants, rather than being confiscated through the receiver. Other suppliers of talc have declared bankruptcy because of litigation.
May 4, 2023 Update U.S. Court of Bankruptcy Michael Kaplan has directed Johnson & Johnson to relaunch settlement discussions with lawyers who turned down Johnson & Johnson’s $8.9 billion deal. The court in Trenton, New Jersey yesterday, the parties appeared before a judge to discuss the next steps in their second bankruptcy matter and Judge Kaplan has pushed for further settlement talks.
This is the solution to resolve the claims of J&J. A settlement for baby powder can get done. Chinese gold bond lawsuit. However, it will require more money – billions of dollars – by Johnson & Johnson.
Lawyers are divided on whether to take the proposal or not and not all clients view the issue in the same manner their attorney does. Second bankruptcy cases are destined to fail with Judge Kaplan has scheduled a hearing for June to decide whether to remove the bankruptcy after the second.
May 3 2023 Update: A group representing cancer patients who have sued Johnson & Johnson (J&J) demanded for they request that the Third Circuit halt the bankruptcy filed by J&J subsidiary LTL Management, claiming it is an attempt to derail the litigation surrounding talc-based products. The committee representing talc claimants made a motion Tuesday requesting the Third Circuit to consider their case and send it back the lower court, with instructions for dismissing the bankruptcy. Chinese gold bond lawsuit. They also requested that the lawsuit against the halted torts of J&J allow the litigation to proceed.
LTL filed for Chapter 11 protection once again following its bankruptcy filing that was rejected by the Third Circuit earlier this year, offering the possibility of an $8.9 billion settlement. The committee believes that the recent ruling allowing LTL’s third Chapter 11 to continue, while also halting trials against J&J, warrants the immediate Third Circuit review. The US Trustee requested the New Jersey bankruptcy court dismiss the LTL bankruptcy case. J&J’s worldwide vice president of litigation Erik Haas, was quoted by Bloomberg saying that J&J plans to file a reply in the appeals court characterizing the filing as an “desperate and legally deficient plan” by a few of law firms that have conflicting financial interests.
May 1 2023 Update: A common question that people ask is how could the plaintiffs’ lawyers and their clients turn down $8.9 billion. That’s of course quite a sum. However, there are lots of victims. Chinese gold bond lawsuit. These are an excellent claims for plaintiffs. We were reminded of this last week in two talc trials which resulted in big verdicts for the plaintiffs. In February, a talcum powder mesothelioma trial in Oregon led to the verdict of $18.1 million. In the same month, a different mesothelioma-related talc case went to the court in South Carolina and resulted in a verdict of $29million on behalf of the plaintiff. It was the same defendant as in these cases: Whittaker, Clark & Daniels Inc., one of the top suppliers of talc in the U.S.
April 30th, 2023 Update: When J&J first attempted to drag the talcum powder litigation into bankruptcy, it did so with an offer to put aside $2 billion to settle the case. The sum was ridiculously low. All of the talc plaintiffs were in favor of the offer. This time around, however, J&J has increased the offer to $8.9 if the talc plaintiffs will allow a bankruptcy settlement and they have the support of a large segment of the talc plaintiffs as well as their lawyers. Chinese gold bond lawsuit. But 75% of the plaintiffs who are a talc, which is necessary for bankruptcy plan approval is a difficult road with so many lawyers with vast inventory of baby powder lawsuits that are opposed against the proposed settlement.
What is the solution to this impasse? More billions.
April 25, 2023, Update Talc cancer claimants have asked a judge to dismiss the Chapter 11 case filed by LTL Management LLC, a absurdly made-up Johnson & Johnson subsidiary, insisting that the company is not financially distressed. LTL requested Chapter 11 to settle tens of thousands of claims that J&J’s baby products caused cancer. Chinese gold bond lawsuit. LTL was denied Chapter 11 in January. 3rd Circuit dismissed its first Chapter 11 case in January, saying LTL was not a candidate for bankruptcy relief as it failed to show financial trouble.
The claimants assert that the third Chapter 11 case is an fraud on the bankruptcy system, and that it is being pursued in bad faith. J&J states that the bankruptcy settlement receives “significant support” from firms representing approximately 60,000 people who are claiming. It is fair to say plaintiffs’ lawyers and victims are divided over the $8.9 billion amount of settlement offered.
April 21, 2023 Update: A bankruptcy judge has ruled the company Johnson & Johnson must face new lawsuits claiming that the company sold a baby powder that contained a chemical that causes cancer. While trials in the talc lawsuits have been suspended for a minimum of 60 days but new lawsuits can be filed, and lawyers may begin to prepare their cases. Chinese gold bond lawsuit. Judges expressed skepticism about J&J’s absurd attempt to relaunch its strategy in another bankruptcy case.
April 13th 2023: Update on the major news is the $8.9 billion over the next 25 years offer for settlement. Lawyers representing cancer victims involved in the MDL Class Action have vowed to fight the settlement with those who claim talc. Why? They believe it’s too little money for the more than 70,000 cancer victims. Chinese gold bond lawsuit. These lawyers believe that J&J should seek a bigger settlement or litigate individual claims if the latest bankruptcy is dismissed.
There is a different group of lawyers that is not part of the leadership in this class action. The lawyers collectively have accumulated many thousands of cases. This group wants to settle today with what they believe is less than these victims deserve. Their argument appears to be twofold. They argue that the settlement – about the equivalent of $100,000 per plaintiff is fair.
That is a hard argument to make. But their second argument has more force: victims should be no longer patient and demand the money immediately.
April 12 2023 Update: Some people are looking for ways J&J is able to file for bankruptcy again. The answer is complicated and convoluted. But let’s try to explain it in simple terms.
Johnson & Johnson asserts that bankruptcy is the only method to settle both present and future lawsuits involving talc conclusively. Also, it believes it can pay less should there be the bankruptcy element which applies pressure for a settlement. Chinese gold bond lawsuit. Going back to more than 400 years in American past, the company asserts that bankruptcy benefits all parties as it distributes settlement payments more equitably and more efficiently than trial courts where litigants are awarded significant settlements while others get nothing.
The main thrust in the 3rd Circuit decision was this is not a case – one that makes a profit, but an affiliate to accept the legal responsibility and declare bankruptcy – Congress considered when it was drafting the Bankruptcy Code. However, it also stated it was not in financial difficulty because J&J assured it of unlimited funding.
Then J&J took advantage of the funding unlimited part of the holding but did not pledge to offer unlimited funding for litigation. J&J claims that its revised financing arrangements with its subsidiary address the appeals court’s concerns while still supplying funds for claim payments. As if offering victims lower amounts of money would resolve the overall issue.
Attorneys representing cancer victims who oppose the agreement counter this with what you conclude is the legal argument. Chinese gold bond lawsuit. They counter with legal nonsense: J&J fraudulently transferred $50 billion in assets to LTL Management to circumvent the appeals court’s ruling. Hyperbole is not exempt: victims’ lawyers call it the biggest “fraudulent transaction that has occurred in United States history.”
Notwithstanding the legal mumbo jumbo, J&J does not really believe this bankruptcy will be able to last. But it is a way to try and push the $8.9 billion settlement to keep the pressure on plaintiffs.
April 10, 2023, Update Bloomberg offers an informative report on a brand new law that has been passed in New Jersey that is shedding new light on litigation funding in the baby powder plaintiffs in the class action. Litigation funders Virage Capital Management and TRGP Capital invested in hundreds of lawsuits that were brought against Johnson & Johnson (J&J) regarding talc products, in exchange for a portion of any wins. J&J is now offering that it will pay $8.9 billion to settle all lawsuits.
The involvement of funders is public knowledge due to a New Jersey court rule requiring the disclosure of certain information about funding sources outside of the. The rules aim to address the rising calls for regulation of the litigation funders. J&J faces over 60,000 claims when you combine state and federal Baby Powder lawsuits. Third-party funding for mass tort lawsuits has pros and pros and. There is no doubt that we are seeing how third-party funding can level the playing field between individuals and large corporations in court.
April 4, 2023 Update: It’s interesting to watch the worm turning in this legal battle. J&J suffered another setback this week, when an appeals court in the Third Circuit denied J&J’s request to maintain the automatic stay during the time that J&J appeals a bankruptcy decision at the U.S. Supreme Court. The automatic stay has frozen hundreds of cases involving talcum powder and stopped any new lawsuits from arising ever since J&J started the controversial process to spin the talc debts off into a bankrupt company over a year back. Chinese gold bond lawsuit. After it was decided that the 3rd Circuit ruled that this bankruptcy was invalid a few months ago, the stay was lifted. J&J had hoped to have it remain in effect until an appeal to the SCOTUS appeal. But, no.
April 1st, 2023 Update Johnson & Johnson announced it will appeal its 3rd Circuit bankruptcy loss to the U.S. Supreme Court last week. The odds that is that the Supreme Court is willing even to consider the appeal? Low.
March 16th 2023 Update: with the bankruptcy stay having been in effect, the first new cases were filed and incorporated into the talcum powder class action MDL in over one year. Seven new talc lawsuits have been added to the MDL in the past month increasing the number of cases that are pending to 37,522.
February 25 2023 Update 2023 Update: A Congressmen from Tennessee is now demanding that be the U.S. Government Accountability Office (GAO) initiate an investigation into the cost J&J talc products have cost the government over the decades.
Recently, in an open letter to the GAO, Rep. Steven Cohen (D-Ten.) in a recent letter to the GAO, Rep. Steven Cohen (D-Ten. J&J of not recognizing the risks of its talc product for many years, while tax dollars were spent treating those injured by exposure to the chemicals. This lawsuit comes a few weeks following J&J’s dramatic loss in the 3rd Circuit Court of Appeals.
Chinese gold bond lawsuit. J&J needs to start making fair settlement offers to victims to begin to put all of this behind it. It is a stain on one of the greatest firms.
February 14 , 2023 Update: At the hearing held today at the hearing in New Jersey, U.S. Bankruptcy Judge Michael Kaplan announced his intention in light of the 3rd U.S. Circuit Court of Appeals ruling to dismiss the bankruptcy case.
You May be Entitled to Significant Compensation Chinese gold bond lawsuit. Johnson & Johnson powders were proven to contain asbestos (a cancer causing agent) and the company failed to notify users of the cancer risk. $2 BILLION has already been awarded to claims. Free To File! No Fees Unless A Settlement Is Awarded!