J&J Cancer Claimants Demand More Money Before Third Bankruptcy

Johnson & Johnson‘s latest bankruptcy-focused effort to resolve widespread talc-related litigation hinges on settling ovarian cancer claims, but the strategy faces long odds and is doomed to fail without higher settlement offers, according to sources familiar with the matter.

J&J remains committed to using bankruptcy to address its mass tort asbestos liabilities stemming from allegedly tainted baby powder, despite seeing two prior Chapter 11 filings for its talc unit tossed out of court last year in the span of just six months. Bankruptcy protection allows the company to avoid incurring legal defense costs while negotiating a potential deal that ...