After several juries have ruled against them in mesothelioma and ovarian cancer lawsuits, Johnson & Johnson’s is said to be considering creating a new business entity specifically for its talc liabilities. The legal maneuver would allow the newly formed company to then file for bankruptcy in order to put an end to the flow of costly litigation that it is facing.
Billions of Dollars Already Awarded to Mesothelioma and Ovarian Cancer Victims
Johnson & Johnson has been ordered to pay billions of dollars in compensation to people diagnosed with malignant mesothelioma and ovarian cancer after years of using its iconic baby powder product. Victims have accused the company of putting their health at risk and causing their illnesses by selling a product that it knew to be contaminated with asbestos and hiding the information from the public. Extensive reporting and evidence submitted at court has shown that the company used its power to convince federal officials to adjust acceptable levels of asbestos for testing purposes.
Bankruptcy Filing Could See Lower Payouts to Mesothelioma and Ovarian Cancer Victims
As mesothelioma victims are well aware, when a company files for bankruptcy protection in the face of mounting litigation, it often leads to lower payouts to victims, and particularly to those who are not included in a previously arranged settlement agreement. Attorneys representing those exposed to asbestos in Johnson & Johnson’s Baby Powder have indicated that they would strenuously object to such a move.
There are currently over 30,000 pending lawsuits filed against the company by mesothelioma and ovarian cancer victims, and many of those that have already been heard have been decided in the victims’ favor. One case filed by multiple women diagnosed with ovarian cancer resulted in $2 billion in damages to the victims and their survivors.
If you or someone you love has been diagnosed with malignant mesothelioma or ovarian cancer and you think it may have been caused by use of a talc-based product, the Patient Advocates at Mesothelioma.net can help. Contact us today at 1-800-692-8608.