You May be Entitled to Significant Compensation 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 make payments of $400 million to US state AGs. Gold Bond Lawsuit .
Johnson & Johnson (JNJ.N) has set aside $400 million to resolve U.S. state consumer protection actions as part of its broader $8.9 billion effort to settle allegations that it’s Baby Powder and other talc-based product causes cancer. Gold bond lawsuit.
J&J company subsidiary LTL Management filed a bankruptcy plan in New Jersey late on Monday that describes how the company plans to pay different kinds of cancer victims as part of bankruptcy settlement. Gold bond lawsuit. J&J has stated that its Talc products are safe and will not cause cancer. The company is trying for an additional time to conclude more than 38,000 lawsuits filed in bankruptcy, as well as prevent new lawsuits from coming forward in the future.
LTL’s bankruptcy plans would deposit $400 million into an additional trust to settle lawsuits filed with state attorneys general alleging that J&J did not comply with state unfair business practices as well as consumer protection laws by misinforming consumers about the quality of its talc products.
A number of states had already initiated consumer protection cases against J&J before LTL’s first bankruptcy filing prevented these investigations from proceeding in 2021. Gold bond lawsuit. New Mexico and Mississippi had already brought suits for damages against Johnson & Johnson before then and states like Arizona, Maryland, North Carolina, Texas and Washington had issued civil investigative requests or subpoenas, according to LTL’s court filings.
New Mexico and Mississippi have filed a petition to end LTL’s bankruptcy, joining cancer victims as well as the U.S. Justice Department’s bankruptcy watchdog. They have argued that a profitable company like J&J is not eligible for bankruptcy protections intended for people with debt problems.
The first time LTL attempted to settle the bankruptcy-related lawsuits was rejected after the same arguments. The U.S. appeals court ruled the LTL did not have “financial difficulty” and therefore not eligible under bankruptcy law. Gold bond lawsuit. LTL filed a second bankruptcy just over two hours after the dismissal, saying that its second attempt was different in that there was less money available and more backing for a settlement.
New Mexico and Mississippi said in their motion to dismiss LTL’s bankruptcy renewal violates the state’s law enforcement authority by attempting unilaterally to cap the liability of the company for state consumer protection actions.
Gold Bond Lawsuit
LTL’s new filings also included more information about how the company plans to evaluate and pay for cancer claims when the bankruptcy plan is approved.
The highest payments under the settlement will be $500,000 for patients diagnosed with terminal mesothelioma before age 45, and $260,000 for people diagnosed with ovarian cancer that is terminal before age 45.
From there, the proposed settlement offers discounts based on the nature and severity of cancer, the patient’s age, history of the use of talc, and other aspects. Gold bond lawsuit. For instance the case of a woman who used talc products on a weekly basis, who had a family history of ovarian cancer, and was diagnosed with an ovarian cancer stage II when she was 55 may be eligible for a $21,125 payout under the program.
Judge orders J&J, talc opponents to engage in settlement talks.
After another round of hearings in Johnson &Johnson’s attempt to use a Texas Two-Step bankruptcy strategy for talc litigation and federal bankruptcy judge Michael Kaplan has ordered the company and those opposing the plan to hold negotiations to settle the matter, Bloomberg reports.
In its second bankruptcy effort for LTL Management–a subsidiary established by J&J to settle claims – the company made a settlement offer of $8.9 billion. Gold bond lawsuit. While one group of law firms representing plaintiffs supports the deal, another group is against the settlement.
The previous week, the opposition group, which is known as the Official Committee of Talc Claimants requested the bankruptcy court for dismissal of the matter by asserting that LTL can not be considered to be in financial trouble.
“The filing is an incredibly legal and ineffective attempt by a tiny number of law firms to try to block claimants from voting on the resolution plan – a plan the vast majority of claimants approve of,” J&J’s litigation chief Erik Haas, said in a statement. Gold bond lawsuit. “The law firms who filed the filing are pursuing financial interests which are in conflict with, diverge from, and oppose the interests they represent. We’ll submit an appeal in the appeals court.”
Gold bond lawsuit. Clay Thompson, a lawyer for MRHFM which is home to more than patients with mesothelioma who have sued J&J, said that the second bankruptcy attempt of J&J failed.
“J&J sends out press releases about how wonderful its plans are, but is requesting that details of the plan, such as what individual sick people would actually receive — be kept private,” Thompson said in a statement. “What do J&J have to keep secret?”
Kaplan has directed the parties to come up with another arrangement plan under supervision by two mediators.
The court in February of 2022 Kaplan stated that J&J’s use of Chapter 11 to hasten a settlement that will free the company from the tens of thousands of claims regarding its talcum products.
But in January of this year a federal appeals court ruled against the decision, ruling that the company could not 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 just two hours after. In response to that move, Kaplan froze the lawsuits for 60 days in order to determine whether or not to accept to file for bankruptcy again.
J&J’s unstoppable profit engine goes out of control after $6.9B talc litigation charge.
With the Two Chapter 11 attempts, J&J has bought 19 months during which cases were placed in limbo. Gold bond lawsuit. J&J wants the claimants to vote on accepting their settlement. J&J will require 75% acceptance for the deal to go through.
In addition to the group of talc attorneys who have panned LTL’s bankruptcy plan, the U.S. Trustee is an arm that is part of the U.S. Department of Justice was also the one to file motions to dismiss the second bankruptcy case of LTL.
In a filing this week, U.S. Trustee Andrew R. Vara wrote that the doors of the bankruptcy court remain “open to honest, but naive debtors.” The doors “are not accessible to those that don’t have a legitimate bankruptcy goal or who seek to abuse the bankruptcy process to hinder or delay their creditors.” Vara continued.
For its part, J&J maintains there is no definitive evidence to suggest that its Talc products, which includes 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 rest of the world later this year.
J&J is determined to stay clear of the expense of going to court. J&J has won most of the cases decided during trial, however, certain losses have been extremely punishing.
A highly publicized trial in Missouri resulted in an $4.7 billion verdict against the drug company that was later reduced 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 talc trials that are either being appealed or settled. In 41 trials 32 ended with a win by J&J as well as mistrials or plaintiff verdict that was annulled in appeal. Gold bond lawsuit. In addition, J&J in 2020 sought to settle around 1,000 cases worth $110 million. Bloomberg announced at that time.
Talcum Baby Powder Ovarian Cancer Lawsuit – Gold Bond Lawsuit
Our lawyers handle the baby powder litigation in every state. The talcum powder lawsuits for Johnson & Johnson have been going on for a long time. Gold bond lawsuit. The lawsuits assert that long-term use of talcum powder (or “talc”), the active ingredient in products like the Baby Powder along with Shower to Shower which can cause ovarian cancer in some women.
This page gives a J&J Talc Power litigation update and examines how the coming bankruptcy ruling will affect the final settlement amounts in the ovarian cancer lawsuits.
Has the deadline passed for you to make a claim for talcum powder? Many who assume the deadline has passed to file a lawsuit against Johnson & Johnson are wrong. Contact us now at 800-553-8082 or request a free and quick review of your case online.
Johnson and Johnson Talcum Powder Lawsuit Update 2023 – Gold Bond Lawsuit
June 2 2023 Update: During the trial for asbestos-containing talc at the trial in California yesterday, technical issues halted the opening statement by the defense attorneys. Gold bond lawsuit. The jurors, attending from home on Zoom, did hear Johnson & Johnson’s lawyer expressing doubt about the science of the 70s asserting the presence of asbestos in their product prior to the session abruptly ended.
The plaintiff could present an initial witness Arthur Langer. Langer explained that the existence of additional minerals along with the talc’s mineral content is inevitable. He said that his team was notified by J&J in 1971 about the presence of chrysotile asbestos in the company’s talc, albeit at lower than 0.1 percent. He also uncovered more asbestos in 1976.
June 1st, 2023 Update Gold bond lawsuit. The first trial since J&J made the decision to split its talc division, and then declare bankrupt marks an important point within the ongoing litigation drama. Trial started on Monday in the heartbreaking case of a young 24-year-old plaintiff who was diagnosed with an aggressive and rare form of mesothelioma in the past year, a diagnosis lawyers on both sides agree is a tragedy of a different kind.
The opening statements exposed the distinct differences between each side’s story. The plaintiff’s attorney took aim against Johnson & Johnson, alleging the use of misleading strategies in its research practices as well as throughout the litigation procedure. As per the lawyer Johnson & Johnson attempted to alter the definition of asbestos despite internal documents dating back to 1978 and 1994 showing that asbestos fibers in the plaintiff’s tissue are included.
Johnson & Johnson’s uncertain $8.9 billion settlement is hanging in the balance with the progress of this trial. Despite the unique nature of this mesothelioma-related case and its distinct issues compared to the majority of talcum powder lawsuits and a decision in favor of the plaintiff could be an unintended setback to Johnson & J’s hope of gaining broad acceptance for their settlement proposal among plaintiffs.
May 31st, 2023 Update: Johnson & Johnson’s bankrupt talc business vigorously defended their 2nd Chapter 11 filing in the facing challenges from talc injury claimants. In an appeal to the New Jersey bankruptcy court, J&J’s subsidiary claimed that the case was distinct from the first filing. It highlighted the extraordinary commitment of $8.9 billion by J&J the biggest settlement ever to be made in the history of a mass tort bankruptcy. Gold bond lawsuit. Not mentioned: how the size of the settlement implies that it is an equitable settlement. J&J also claimed support from several plaintiffs’ legal firms representing more than sixty thousand claimants. This is not easy to confirm however it is likely to be incorrect.
May 24 2023 Update: Following Johnson & Johnson’s bankruptcy in 2021 filing, the first trial involving its cosmetic talc products that are believed to containing asbestos is set to commence jury selection on Monday, California within the Alameda County Superior Court, which is a well-known court for plaintiffs. Plaintiff claims that mesothelioma was caused by asbestos exposure through J&J’s products which the company does not deny. The trial also involves six retailers accused of selling talc products.
May 22, 2023 Update: Lawyers involved in the second J&J talc bankruptcy are now fighting over who should be appointed to the post of future claims representative, the role is crucially important to resolving the claim for talc. Gold bond lawsuit. Randi Ellis, a lawyer who is frequently involved in MDLs throughout the country was appointed the claims representative in the previous bankruptcy. J&J’s defense team wants Ellis to be appointed in that position yet again, but the lawyers for the talc plaintiffs are protesting due to the fact that Ellis has an interest conflict that would prevent her from being appointed to that post once more. The dispute stems from reality that Ellis was believed to have been involved in drafting the hotly disputable second bankruptcy, which raises concerns regarding her capacity to remain neutral. In reality, the bankruptcy will be tossed out anyway.
May 17th, 2023 Update: The pretend company that J&J created for the talc litigation bankruptcy has informed a New Jersey bankruptcy court that they have designated $400 million as a settlement for claims brought by states accusing J&J of misleading marketing for its talc products. Gold bond lawsuit. This amounts to an $8.5 billion settlement for cancer patients. It’s hard to imagine any scenario in which J&J will be able to push these settlements for babies with these numbers. Although J&J’s $8.5 billion offer may seem like a huge sum initially, it will not look good when you look at the numbers. The proposed settlement based on our rough calculations would not be able to pay victims more than an average settlement $100,000 per case. This isn’t enough.
May 15 2023 update: J&J might be facing suit from an advocacy group representing cancer victims. Gold bond lawsuit. The group contends that J&J deliberately withdrew a $61.5 billion financing agreement with its subsidiary, LTL Management LLC, to simulate financial distress and to validate the company’s Chapter 11 bankruptcy filing. The group claims this decision is equivalent to a fraudulent transfer of the rights of victims’ compensation. They will investigate J&J’s actions in the wake of the dismissal of the LTL’s bankruptcy case in its first instance.
May 10 2023 Update: During the next week this week, this week the U.S. Bankruptcy Court in New Jersey will hear oral arguments in a motion dismiss the second bankruptcy application from J&J subsidiaries LTL Management. In the meantime the bankruptcy has issued an Order which requires both sides to participate in a new settlement mediation in the hope that it will be possible to reach a global settlement agreement brokered.
May 5th 2023 Update: Talc supplier Whittaker, Clark & Daniels filed for Chapter 11 bankruptcy due to many lawsuits claiming that its talc products caused cancer through asbestos exposure. Gold bond lawsuit. Over 2,700 individuals have sued the company and it has been paying $1 million per month on legal defense. The company’s recent $29 million verdict that was handed down in South Carolina forced it to pursue bankruptcy protection, and arguing that assets should be distributed in an equitable manner between talc claimants rather than being confiscated through the receiver. Other suppliers of talc have declared bankruptcy because of legal proceedings.
May 4, 2023, Update U.S. bankruptcy judge Michael Kaplan has directed Johnson & Johnson to restart settlement discussions with lawyers who turned down the company’s proposed $8.9 billion agreement. The court in Trenton, New Jersey yesterday the parties appeared before a judge to discuss next steps in this second case of bankruptcy. Judge Kaplan pushed more settlement talks.
This is the answer to settle these claims with J&J. A baby powder settlement can be completed. Gold bond lawsuit. But it’ll need more money, more billions of dollars – by Johnson & Johnson.
Lawyers are split on whether or not to agree with the proposal and not every client sees the issue the same way their attorney does. Second bankruptcy cases are bound to fail and Judge Kaplan has scheduled a hearing for June to determine if she will dismiss the bankruptcy for the second time.
May 3 2023 Update A group of cancer victims who are suing Johnson & Johnson (J&J) demanded for the Third Circuit halt the bankruptcy filed by J&J subsidiary LTL Management, claiming it is an attempt to halt the litigation surrounding talc-based products. The group representing claimants for talc submitted a motion on Tuesday requesting for the Third Circuit to consider their case and send it back to a lower court, with instructions for dismissing the bankruptcy. Gold bond lawsuit. They also asked that the lawsuit against the halted torts of J&J be allowed to continue.
LTL requested Chapter 11 protection once again after its first bankruptcy filing was denied by the Third Circuit earlier this year which offered an $8.9 billion agreement. The committee believes that the recent ruling, which allows LTL’s second Chapter 11 to continue, in addition to halting trials against J&J and J&J, requires the immediate Third Circuit review. The US Trustee also requested that it be requested that the New Jersey bankruptcy court dismiss the LTL bankruptcy case. J&J’s global vice president of litigation, Erik Haas, was quoted by Bloomberg declaring that J&J intends to file a statement in the appeals court, calling the request an “desperate and legally insufficient effort” by a few of law firms with competing financial interests.
May 1st, 2023 Update: One common question that people ask is how plaintiffs and their lawyers turn on $8.9 billion. Of course, it’s quite a sum. But there are a lot of victims. Gold bond lawsuit. They are a great arguments for plaintiffs. We were reminded recently in two talc trials which resulted in big verdicts for plaintiffs. In February, a talcum powder mesothelioma trial in Oregon was settled with a verdict of $18.1 million. The following month, a second mesothelioma talc case was brought to trials at South Carolina and resulted in an award of $29 million to the plaintiff. It was the same defendant as in these cases: Whittaker, Clark & Daniels Inc. which is one of the leading manufacturers of talc in U.S.
April 30 2023 Update: J&J initially tried to take the talcum powder lawsuit into bankruptcy, it did so with an offer to reserve $2 billion to settle the case. It was a ridiculously small amount. None of the talc plaintiffs agreed with it. This time around, however, J&J has increased the offer to $8.9 If the talc plaintiffs will allow a bankruptcy settlement and also has the support of a large portion of the talc plaintiffs and their attorneys. Gold bond lawsuit. But with 75% of plaintiffs who are a talc, which is required for bankruptcy plan approval is not an easy task due to the sheer number of lawyers with massive stocks of baby powder lawsuits opposed towards the agreement.
What is the solution to this impasse? More billions.
April 25 2023 Update: Talc patients have demanded a judge disqualify their Chapter 11 case filed by LTL Management LLC, a absurdly fabricated Johnson & Johnson subsidiary, insisting that the company is not financially distressed. LTL applied for Chapter 11 to settle tens of thousands of claims that J&J’s baby powders caused cancer. Gold bond lawsuit. The 3rd Circuit dismissed its first Chapter 11 case in January The court ruled that the company was not eligible to receive bankruptcy relief because it was unable to demonstrate financial distress.
The plaintiffs argue that LTL’s second Chapter 11 case is an fraud on the bankruptcy system, and that the case is being handled in bad faith. J&J asserts that the bankruptcy settlement has “significant support” from the firms that represent an estimated 60,000 people who are claiming. It’s safe to say that the plaintiffs’ attorneys and victims ‘ lawyers are divided on this $8.9 billion settlement offer.
April 21st, 2023 Update A bankruptcy judge ruled in favor of Johnson & Johnson must face new lawsuits alleging that the company sold tainted baby powder causing cancer. Even though trials for talc lawsuits are paused for a minimum period of 60 days but new lawsuits can be filed and lawyers are able to begin preparing their cases. Gold bond lawsuit. Judges expressed doubt about J&J’s attempt to relaunch its strategy in the second bankruptcy case.
April 13th 2023 Update: The most important announcement is an $8.9 billion over 25 year period settlement offered. Lawyers representing cancer patients in the MDL collective action promised to challenge the settlement Talc claimants. Why? They feel it’s not enough money for 70,000 victims who have cancer. Gold bond lawsuit. They argue that J&J should negotiate a larger settlement or pursue individual claims if the most recent bankruptcy is declared unconstitutional.
There is a different group of lawyers outside of the top leadership in the class action. These lawyers have collectively amassed the equivalent of tens of thousands of lawsuits. The group is seeking to settle now with what they believe is less than these victims deserve. Their argument is twofold. First, they argue the settlement – about an average of $100,000 per plaintiff is fair.
It’s a difficult argument to prove. But their second argument has more teeth: victims can not afford to wait any longer and need to get their money right now.
April 12 2023 Update: Many are asking how J&J could file for bankruptcy once more. The answer is complicated and convoluted. Let’s try to simplify it clearly.
Johnson & Johnson asserts that bankruptcy is the only method to address both present and future talc litigations in a definitive manner. Also, it believes that it will be less expensive should there be the bankruptcy element which applies pressure to negotiate a settlement. Gold bond lawsuit. Moving past 400 years of American past, the company claims that bankruptcy benefits all parties because it distributes settlement payments more equitably and effectively than trial courts, where some litigants receive significant award while others do not.
The basic tenet of this 3rd Circuit decision was this is not a matter of one that makes a profit, but a subsidiary to take the legal liability and declare bankruptcy – Congress had in mind when it came to drafting the Bankruptcy Code. It also clarified it was not financially difficulty because J&J offered unlimited financing.
Then J&J did not hesitate to take advantage of the unlimited funding part of the contract and didn’t make any promises to offer unlimited funding for cases. The company claims that new financing agreements with its subsidiary address the appeals court’s concerns, while supplying funds for claim payments. As if offering victims lower amounts of money would resolve the problem at hand.
Lawyers representing cancer patients who do not agree with the agreement counter the agreement with what is countering legal nonsense legal nonsense: J&J fraudulently transferred $50 billion in assets away from LTL Management to circumvent the appeals court’s decision. Hyperbole did not go unnoticed: victims’ lawyers call it the biggest “fraudulent transaction ever in United States history.”
Notwithstanding the legal mumbo jumbo, J&J does not really believe this bankruptcy will be able to last. However, it’s a means to try and push the $8.9 billion settlement, and to keep pressure on plaintiffs.
April 10, 2023 Update Bloomberg is running an intriguing article about a new law within New Jersey that is shedding new light on the funding of litigation in the baby powder suit for class actions. Funders of litigation Virage Capital Management and TRGP Capital invested in hundreds of claims from Johnson & Johnson (J&J) over talc products in exchange for a percentage of any profits. J&J is now willing that it will pay $8.9 billion to settle all lawsuits.
The involvement of the funders is public knowledge because of an New Jersey court rule requiring the release of certain details about outside funding backers. The rules aim to tackle the growing demands for regulation of litigation funders. J&J has to deal with more than 60,000 lawsuits when you combine federal and state Baby Powder lawsuits. Third-party funding of mass tort cases has pros and cons. However, there is no doubt that we are witnessing the ways that third-party funding can even the playing field between individuals as well as large corporations in the courtroom.
April 4, 2023 Update: It is enjoyable to see the worm turning in this litigation. J&J took another hit this week, when it was found that the Third Circuit denied J&J’s request to keep the automatic stay in place while J&J appeals a bankruptcy decision in the U.S. Supreme Court. It has frozen thousands of talcum powder cases and prevented the filing of new lawsuits ever since J&J initiated the controversial effort to spin the talc liabilities off into a bankrupt entity over one year in the past. Gold bond lawsuit. When it was decided that the 3rd Circuit ruled that this bankruptcy was invalid just a few months ago the stay was lifted. J&J was hoping to have it remain in effect until its SCOTUS appeal. But the answer was 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 the Supreme Court is willing even to hear the appeal? Low.
March 16, 2023 Update: with the bankruptcy stay officially lifted, the first new cases have been filed and transferred into the class action involving talcum powder MDL within a year. Seven new talc-related lawsuits were added to the MDL over the last month increasing the number of cases that are pending to 37,522.
February 25, 2023 Update 2023 Update: A Congressmen from Tennessee is now requesting that be the U.S. Government Accountability Office (GAO) initiate an investigation into the amount J&J product containing talc has cost the government over the decades.
A recent email to the GAO, Rep. Steven Cohen (D-Ten.) has accused J&J of ignoring the dangers of its talc products for decades while tax dollars were used to treat those who were injured through exposure to the products. The suit comes just a few days after J&J’s major loss in the 3rd Circuit Court of Appeals.
Gold bond lawsuit. J&J should begin to make reasonable settlement proposals for victims in order to put all of this behind it. It is a stain on one of the greatest firms.
February 14 2023 Update: In the hearing held today in New Jersey, U.S. Bankruptcy Judge Michael Kaplan announced his intention following the ruling of 3rd U.S. Circuit Court of Appeals ruling to dismiss the bankruptcy case.
You May be Entitled to Significant Compensation 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!