Loading...
Market
Will a bankruptcy judge approve Johnson & Johnson's $6.48 billion settlement by Mar 31, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official court ruling or press release from Johnson & Johnson
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.
View original story
Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Approved • 33%
Rejected • 33%
Postponed • 33%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Approved by the court • 25%
Rejected by the court • 25%
Modified and approved • 25%
No ruling by end of 2024 • 25%