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How will J&J's stock price change one year after settlement approval?
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J&J Proposes $6.5 Billion Settlement for Asbestos-Related Ovarian Cancer Claims
May 1, 2024, 11:00 AM
Johnson & Johnson has proposed a $6.5 billion settlement to resolve tens of thousands of lawsuits alleging that its talc-based products, including baby powder, contain asbestos and caused ovarian cancer. The company announced that if three-quarters of the claimants vote in favor, the settlement will proceed under a plan involving its subsidiary, LLT Management LLC. This plan aims to address all current and future ovarian cancer talc claims through a consensual 'prepackaged' reorganization. The settlement also seeks to resolve nearly all talc ovarian cancer lawsuits in the U.S.
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