On January 30, 2023, the Third Circuit Court of Appeals rejected Johnson & Johnson’s (“J&J”) use of the “Texas Two-Step” bankruptcy strategy. The unanimous decision is a sharp rebuke of the emerging litigation trend in which companies facing significant mass…
Read More Third U.S. Circuit Court of Appeals Rejects J&J’s “Texas Two-Step” Strategy
Earlier last year, Johnson & Johnson (“J&J”) created a subsidiary, LTL Management (“LTL”), which now holds all talcum powder liabilities, while only holding $2 billion in assets. The assets allocated to LTL are miniscule in comparison to the estimated $450…
Read More Johnson & Johnson’s Talc Bankruptcy has been Appealed to the Third Circuit
(Reuters) —Johnson & Johnson faces over 20,000 lawsuits from women who used the company’s baby powder product and developed ovarian cancer. Amidst these thousands of suits, Reuters reported that several sources familiar with the pending litigation have confirmed J&J is…
Read More Johnson & Johnson Considers Bankruptcy Amidst Talcum Powder Suits
