Johnson & Johnson to Pay $700 Million for Talc Litigation
Following the failure to resolve several talcum-powder lawsuits through two unsuccessful bankruptcy attempts, Johnson & Johnson has agreed to a $700 million settlement that could potentially release the company from some consumer protection claims, and a miniscule part of the talc litigation.
J&J is gearing to pay $700 million to 42 states and the District of Columbia in a quest to settle claims that the company did not warn of. Risks posed by its powder based products, including its famous Johnson’s Baby Powder.
“Consistent with the plan we outlined last year, the company continues to pursue several paths to achieve a comprehensive and final resolution of the talc litigation,” says J&J Litigation Chief Erik Haas.
“We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement.”
Mississippi and New Mexico refused to sign on the agreement and have asked for larger settlements.
The company currently faces a staggering 53,000 lawsuits from people who have reported that the company’s talc products caused them ovarian cancer or mesothelioma.
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