Johnson & Johnson proposes $6.475 billion settlement in talc lawsuits
Johnson & Johnson (JNJ.N) announced on Wednesday a significant move towards resolving ongoing litigation over its baby powder and other talc products, with a proposed settlement amounting to $6.475 billion. This substantial figure is aimed at settling tens of thousands of lawsuits alleging that the company’s talc products contain asbestos and could cause ovarian cancer. Johnson & Johnson plans settlement via subsidiaryThe healthcare giant plans to manage this settlement through a third bankruptcy filing of a subsidiary, LTL Management, specifically created to handle J&J’s talc liabilities. Thi...