Facing 62,000 personal injury claims blaming their talc products for ovarian cancer and malignant mesothelioma diagnoses, Johnson & Johnson has filed an unprecedented third Chapter 11 bankruptcy case that it hopes will end the litigation against it. This version boosts the compensation plan to about $8 billion and has received a vote of confidence from many of those claiming injury from the products.
Two J&J Bankruptcy Claims Rejected by Mesothelioma and Ovarian Cancer Victims and Courts
Several mesothelioma and ovarian cancer victims who have sued Johnson & Johnson have been awarded multi-million dollar verdicts, and this was the impetus for the company pursuing its controversial bankruptcy strategy twice before. The first bankruptcy case was submitted in Charlotte, North Carolina, and the second was filed in Trenton, New Jersey. Both were rejected by the courts. This time, the company has filed for Chapter 11 bankruptcy protection in a Houston, Texas court, automatically halting thousands of pending claims.
While the third bankruptcy filing has the distinction of being supported by thousands of ovarian cancer victims with pending claims, many object to its terms and are asking the court to reject the application. The proposal promises payments of approximately $10 billion over a 25-year period, including to victims who have not yet been diagnosed. The average payment would be between $75,000 and $150,000 for those with ovarian cancer, and the plan would effectively cap the company’s exposure to the claims that represent the largest potential awards to ovarian cancer and mesothelioma victims.
Some Ovarian Cancer Victims Reject Bankruptcy Proposal
Though Johnson & Johnson presented its case with the support of more than three-quarters of ovarian cancer victims who voted on the proposal, many still oppose the offer. According to one attorney, “We view this so-called vote as another fraudulent effort by J&J to manipulate the bankruptcy process and minimize the legitimate claims of ovarian cancer victims.”
If you or someone you love has been diagnosed with malignant mesothelioma or ovarian cancer following the use of J&J talcum powder products, the Patient Advocates at Mesothelioma.net are here to answer your questions. Contact us today at 1-800-692-8608 to learn more.
