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What percentage of claimants will vote in favor of Johnson & Johnson's $6.48 billion settlement proposal by Dec 31, 2024?
2
Resolution / Starting Odds
Less than 50% • 25%
50% to 74% • 25%
75% to 89% • 25%
90% or more • 25%
Official press release or court documents from Johnson & Johnson or the bankruptcy court
Story
Johnson & Johnson Attempts Third 'Texas Two-Step' Bankruptcy to Settle $6.48 Billion Talc Lawsuits
Jul 8, 2024, 07:00 PM
Johnson & Johnson is making a third attempt to use a 'Texas two-step' bankruptcy maneuver to resolve tens of thousands of lawsuits alleging its Baby Powder and other talc products caused cancer. The company maintains that its talc is safe, asbestos-free, and does not cause cancer. J&J has proposed a $6.48 billion settlement, which it claims is one of the largest in the history of tort litigation. The company needs the votes of 75% of claimants before a subsidiary can ask a bankruptcy judge to impose the settlement on all of them. J&J alleges that opposing plaintiffs’ lawyers are acting out of greed to extract additional fees, while the plaintiffs’ lawyers accuse J&J of abusing the bankruptcy system to deny plaintiffs the right to test their claims before a jury. For J&J, the allure of Chapter 11 lies in the fact that bankruptcy judges can enforce global settlements that permanently halt all related lawsuits and forbid new ones.
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Less than 50% • 25%
50% to 75% • 25%
75% to 90% • 25%
More than 90% • 25%
Less than 80% • 25%
80% to 89% • 25%
90% to 99% • 25%
100% • 25%
Approved with over 75% votes • 25%
Approved with 50-75% votes • 25%
Approved with less than 50% votes • 25%
Rejected • 25%
Less than 70% • 25%
70% to 80% • 25%
80% to 90% • 25%
More than 90% • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Finalized and paid • 25%
Finalized but not paid • 25%
Not finalized • 25%
Settlement amount changed • 25%
Approved • 33%
Rejected • 33%
Postponed • 33%
Yes • 50%
No • 50%