A U.S. bankruptcy judge rejected Johnson & Johnson’s $10 billion proposal to settle lawsuits alleging its baby powder and other talc products cause ovarian cancer.
It’s the third time the company’s bankruptcy strategy failed in court, Reuters noted.
WATCH:
Johnson & Johnson’s $10 billion bankruptcy deal to end tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer failed yet again when a US judge rejected the company’s proposal https://t.co/VHdEiIHHNU pic.twitter.com/d0VV3gA10D
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Per Reuters:
J&J has been attempting to resolve the lawsuits through a subsidiary company’s bankruptcy, after two previous bankruptcy attempts failed in other courts.
But the judge overseeing its case, U.S. Bankruptcy Judge Christopher Lopez in Houston, said that the
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