Johnson & Johnson, the American cosmetics and hygiene products maker, has proposed a $6.48 billion plan to settle lawsuits filed in the US over claims that its baby powder and other talc-based products cause cancer. The plaintiffs accepted the giant company’s offer.
75 PERCENT APPROVAL RATE EXCEEDED
Johnson & Johnson has reportedly garnered enough support for its $6.5 billion bid to settle multiple lawsuits alleging that its talc-based products, including its iconic baby powder, cause cancer. The company has surpassed the 75% approval rate needed to move forward with a plan to place a subsidiary into bankruptcy protection by securing the necessary plaintiff support.
Johnson & Johnson spokeswoman Clare Boyle said the company could not comment at this time because the vote count had not yet been completed. If approved, the deal would be one of the largest in the company’s history and would aim to close a series of legal battles over its talc products.
WHAT HAPPENED?
The allegations against Johnson & Johnson began after a 62-year-old customer, Jacqueline Fox, died of ovarian cancer in 2015.
In February 2017, a Missouri state court in the US awarded Jacqueline Fox’s family $72 million in compensation, but this decision was overturned on appeal.
In 2018, Reuters published a report announcing to the world that Johnson & Johnson had known since at least 1971 that there was asbestos in its talcum powder.
In a written statement at the time, the company described the Reuters report as “one-sided, inaccurate and provocative.”
In 2018, Johnson & Johnson was ordered to pay $4.69 billion in compensation to 22 women, six of whom lost their lives, after losing a case in the state of Missouri. The number of lawsuits filed against the company in four years was recorded as 16,800.
#thousand #lawsuits #filed #years #Cosmetics #giant #settles #plaintiffs #jawdropping #amount
2024-08-18 02:31:36