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Significant Change in Johnson & Johnson Stock Price Post-Settlement Announcement?
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Johnson & Johnson Proposes $11 Billion Settlement in Talc Cancer Lawsuits
May 1, 2024, 11:00 AM
Johnson & Johnson is proposing a settlement totaling approximately $11 billion to resolve tens of thousands of lawsuits claiming that its talc products, including baby powder, contain asbestos and have caused ovarian cancer. The settlement plan, managed by its subsidiary LLT Management LLC, aims to address all current and future ovarian cancer claims through a 'prepackaged' reorganization. The company is seeking approval from claimants, requiring a 75% affirmative vote to proceed with the settlement later this summer.
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