Pharmaceutical giant Johnson & Johnson has proposed an $8.9 billion settlement to resolve thousands of lawsuits accusing the company of selling baby powder and other talc products that caused cancer.
The pharma firm shared details of the proposal in an April 4 statement announcing that it has refiled its subsidiary LTL Management LLC. for voluntary Chapter 11 bankruptcy protection, a move that could “equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America.”
