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J&J Proposes $11 Billion Settlement in Talc Cancer Lawsuits

May 1, 2024, 10:37 AM

Johnson & Johnson is advancing a proposed settlement of $11 billion to resolve tens of thousands of lawsuits alleging that its talc products, including baby powder, contain asbestos and cause ovarian cancer. The company, through its subsidiary LLT Management LLC, plans a "prepackaged" reorganization to address all current and future ovarian cancer talc claims. J&J is seeking the approval of claimants, requiring a three-quarters majority for the settlement to proceed. If successful, the company anticipates implementing a new phase, termed LTL 3.0, later this summer.