IPFS News Link • Lawsuits
Johnson & Johnson weighs offloading baby powder asbestos lawsuits into--
• https://www.dailymail.co.uk by ReutersJ&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer
A Missouri court has awarded one group of women $2 billion in damages
The company is reportedly exploring a plan to offload liabilities into a newly created business that would then seek bankruptcy protection
The maneuver is known among legal experts as a Texas two-step bankruptcy
Should J&J proceed, plaintiffs who have not settled could find themselves in protracted bankruptcy proceedings with a likely much smaller company