J&J Loses Latest Legal Bid to Revive Talc Bankruptcy Strategy

Johnson & Johnson lost its bid in a federal appeals court to revive a plan to settle tens of thousands of talc cancer lawsuits by placing a subsidiary into bankruptcy.

The ruling Thursday upheld a bankruptcy judge’s dismissal last year of the Chapter 11 case of J&J subsidiary LTL Management LLC. J&J created LTL to carry into bankruptcy all health claims related to baby powder and other J&J products made with talc allegedly tainted with toxic substances. Last year, the Philadelphia-based appeals court rejected a similar bankruptcy plan.

The decision came on the eve of a Friday deadline for women ...