Johnson & Johnson subsidiary LTL Management believes it now has support of 70,000 to 80,000 claimants, enough to meet the 75% voting threshold required for a bankruptcy court to approve the settlement.
A Johnson & Johnson subsidiary is again asking a US judge to pause tens of thousands of lawsuits alleging the company’sand other talc products cause cancer, as it seeks to resolve the litigation in bankruptcy after a federal appeals court found its first attempt improper.
LTL has said litigation against J&J would imperil its effort to negotiate a comprehensive settlement of all current and future talc claims in its bankruptcy. LTL attorney Greg Gordon pushed back on those arguments at the start of the hearing, saying “the likelihood of a successful reorganization is very high.”
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