translation exclusiveJohnson & Johnson announced that it agreed to pay $8.9 billion to tens of thousands of people after it was proven that the company’s talcum powder products caused cancer.
settlement suggested
Johnson & Johnson said the proposed settlement would be paid out over 25 years through a subsidiary that filed for bankruptcy to enable the $8.9 billion trust fund. If approved by the bankruptcy court, the agreement will resolve all current and future claims related to Johnson & Johnson products that contain talc, such as baby powder, the company said.
victory Important
In a statement, a group of attorneys representing nearly 70,000 plaintiffs, including families of people who have died of ovarian cancer and mesothelioma, called the deal a “milestone” and “an important victory for the tens of thousands of women who suffer from gynecological cancers.” .
bankruptcy
For a deal to become final, the court must first accept a new bankruptcy filing by Johnson & Johnson’s subsidiary, LTL Management, and the settlement itself; The company also needs to convince enough claimants to support the settlement plan.
exposure for asbestos
Company executives have known for decades about the risks of asbestos exposure associated with talc products, including the popular baby powder that went on sale 129 years ago.
