bankruptcy News

J&J’s $8.9 Billion Talc Settlement Faces Bankruptcy Test

Johnson & Johnson’s proposed $8.9 billion settlement of thousands of lawsuits alleging that its talc products cause cancer faces a crucial hurdle this week as a U.S. bankruptcy judge in New Jersey considers whether or not a J&J subsidiary may …

A $1.7 Billion Opioid Settlement Is at Risk of Falling Apart

A major US opioid settlement is on the verge of unraveling. Mallinckrodt Plc, the drugmaker that first began producing morphine and codeine in 1898, owes states, hospitals, tribes, individuals and others hurt by the opioid crisis $200 million by the …

J&J, Cancer Victims Ordered to Start Mediation in Bankruptcy

A federal judge ordered a new round of settlement talks between Johnson & Johnson and lawyers who spurned the company’s offer to pay $8.9 billion to end tens of thousands of cancer claims filed by people who used the company’s …

Oakland 2nd California Diocese to Seek Bankruptcy Over Abuse

The Roman Catholic Diocese of Oakland filed for bankruptcy Monday due to hundreds of new child sex abuse claims, becoming the second diocese in California to do so. The San Francisco Bay Area diocese faces more than 330 lawsuits brought …

Cancer Victims Urge Judge to Dismiss J&J Talc Unit’s Second Bankruptcy

Cancer victims on Monday urged a U.S. judge to dismiss a Johnson & Johnson subsidiary’s second bankruptcy filing, saying that the company is abusing the bankruptcy system in its renewed attempt to resolve tens of thousands of lawsuits alleging that …

Judge Halts Most Talc Lawsuits Against J&J, Stops Trials

A U.S. judge on Thursday halted most of the tens of thousands of lawsuits alleging Johnson & Johnson’s baby powder and other talc products caused cancer and stopped any trials as part of a company subsidiary’s second attempt to settle …

Veterans Suing 3M Over Earplugs Seek to Stop ‘False Alarm’ Bankruptcy

U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users allege were …

J&J Talc Unit Defends Latest Bankruptcy Settlement Bid

A Johnson & Johnson company on Tuesday defended its second attempt to resolve talc lawsuits in bankruptcy, telling a U.S. judge it can quickly build consensus around its $8.9 billion settlement offer despite doubts about its assertion that 60,000 plaintiffs …

J&J Talc Unit 2nd Bankruptcy Must Be Dismissed, Cancer Victims’ Lawyers Say

Johnson & Johnson’s renewed effort to resolve talc lawsuits through an $8.9 billion bankruptcy settlement must be dismissed as a “fraudulent scheme” that defies a court order rejecting the company’s previous attempt to settle the litigation, according to a court …

3M’s Bid to Shield Itself From Earplug Lawsuits Faces Skeptical Judges

Federal appeals court judges on Tuesday appeared skeptical of 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over allegedly defective military-issue earplugs. Paul Clement, a lawyer for Aearo, urged a …