J&J talc unit faces bankruptcy judge after tactic rejected

Johnson & Johnson's subsidiary shouldering talc-related lawsuits goes before a bankruptcy judge on Tuesday for the first time since a U.S. appeals court last month nixed the company's attempt to offload the litigation into Chapter 11 proceedings.

LTL on Monday asked the full 3rd Circuit to reconsider the decision by the three-judge panel.

, named for a Texas law the company employed to carve its consumer business into two new subsidiaries. J&J, with a market capitalization of more than $400 billion, has argued that the avalanche of lawsuits posed a serious financial threat. The company's costs of verdicts, settlements and legal fees soared to about $4.5 billion, with no end in sight, according to bankruptcy-court filings.

LTL declared bankruptcy while J&J avoided seeking Chapter 11 protection, with all its inherent financial and reputational wreckage.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Creed III Video Teases the Next Chapter in Adonis' Boxing JourneyA brand new behind-the-scenes featurette for MGM's upcoming sports drama threequel Creed III has been revealed.
Read more »

John Wick: Chapter 4 – 'Wick Week' Kicks Off 5 Days Of New ContentIt looks like Lionsgate is ready to market the hell out of John Wick: Chapter 4 now that we are in the last six weeks before the release. The John Wick series, which started as a nobody one-off action movie that could have the elevator pitch of 'Taken but with a dog,' has blossomed into one of […]\n
Read more »

‘John Wick: Chapter 4’s Action-Packed Marketing Push Starts Now With “Wick Week”While they didn't drop a JohnWick trailer during the SuperBowl, Lionsgate revealed that this week shall be known as WickWeek.
Read more »

New John Wick: Chapter 4 Poster RevealedThe next chapter in the John Wick franchise is set to hit theaters next months, with IGN revealing [...]
Read more »

Baba Yaga Visits the Eiffel Tower in New 'John Wick: Chapter 4' PosterKeanu Reeves visits the Eiffel Tower in a new poster for 'John Wick: Chapter 4'.
Read more »

'John Wick: Chapter 4' Runtime Revealed [Exclusive]JohnWick4 is set to be the longest in the franchise. Here's the official runtime:
Read more »