Joseph Fantini’s Post

Johnson & Johnson, through its subsidiary LLT Management LLC (LLT), has proposed a US $6.475 billion plan "for the comprehensive and final resolution" of all current and future U.S. legal claims alleging its talc-based products contained asbestos and in turn, caused ovarian cancer. This settlement would be paid over the course of 25 years, which per J&J, "is a far better recovery than the claimants stand to recover at trial." J&J explained in a press statement that "most ovarian claimants have not recovered and will not recover anything at trial," as the company has prevailed in approximately 95% of ovarian cases tried to date, including every case tried over the last six years. Furthermore, per J&J, it would "take decades to litigate the remaining cases and therefore, most claimants will never have 'their day in court.'" New This Time: Cancer Claimant Voting The new proposal is different from the previous LLT filings in that it provides for a three-month solicitation period during which ovarian claimants are informed of the terms and have the opportunity to vote for or against the plan; such opportunity was denied in the prior bankruptcy cases. If 75% of the claimants vote in favor of the plan, the company's subsidiary may file a consensual “prepackaged” Chapter 11 bankruptcy to secure its confirmation. Read more: https://lnkd.in/genAC7D3 #Talc #JJlawsuit #Cosmeticregulatory

Johnson & Johnson to Settle Talc Lawsuits for $6.5 Billion In a significant development, Johnson & Johnson has announced a landmark $6.5 billion settlement to resolve the majority of U.S. lawsuits alleging a link between its talc-based products and ovarian cancer. Key Details: - The settlement will be facilitated through the third bankruptcy filing of subsidiary company LTL Management. - A three-month voting period will commence for claimants, aimed at reaching a comprehensive agreement on existing and future ovarian cancer claims. - Notably, approximately 99% of talc-related lawsuits against J&J and its subsidiaries are tied to ovarian cancer. This announcement underscores the complexities and implications surrounding product liability litigation in the healthcare industry. What are your thoughts on this development? How might it influence future litigation strategies and regulatory standards? Credits : CNBC News #JohnsonAndJohnson #ProductLiability #IndustryNews #Healthcare

J&J faces lawsuits from more than 61,000 plaintiffs over talc. The vast majority are by women with ovarian cancer, with only a small minority involving people with mesothelioma. The company has settled most of the mesothelioma cases. J&J needs the support of 75% of remaining plaintiffs to get approval for a bankruptcy settlement that would end the litigation, shutting off future cases and preventing people from opting out of the deal. Courts rejected two previous efforts by the company to resolve the talc cases in bankruptcy. J&J has said it is confident that support from plaintiffs will allow the latest attempt to succeed. A group of plaintiffs opposed to the deal on May 22 filed a class action lawsuit aiming to stop it, calling it a "fraudulent" abuse of the bankruptcy system. Trials in the talc cases have had a mixed record, with major plaintiff wins including a $2.1 billion judgment in 2021 awarded to 22 women with ovarian cancer. In April, J&J won an ovarian cancer case and was hit with a $45 million verdict in a mesothelioma case.

Johnson & Johnson makes $85B per year currently in revenue and anticipates that will grow each year. They currently make $15B per year off of oncology products alone like DARZALEX® (daratumumab) and DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) for HCPs. Any student that is studying law at Rutgers University Law Review or Seton Hall University School of Law should note this for future issues which arise from terrible products from pharmaceutical manufacturers which cause cancer. NJ Governor Phil Murphy does not care about all his citizens. Yet JNJ keeps trying to avoid a real settlement for the many victims who uses its talc product and developed ovarian cancer. They are attempting a "Texas two-step" that would pay a pittance of $10B. Axios is right to question this - it is another example of Vulture Capitalism from what was once considered a "Blue Chip" company in the United States of America. Cory Booker and JB Pritzker are big money Democrats and know this. Everyone with two brain cells know that Johnson & Johnson is trying to do following their split off of Kenvue. Dear Johnson & Johnson: stop pretending Americans like my aunt who developed ovarian cancer 17 years ago are fools. Take care of the victims who developed cancer from using your products while you continue to make $15B+ a year by gaming the Global Health Care System. There is no court which should approve this bankruptcy. JNJ needs to pay their fair share to its victims like anyone else would have to in America. Global HC Analytics LLC - Objective Common Sense Health Care Analytics! #VoteGreen2024 #AllHumansMatter #JNJNeeds2TakeCareOfItsCancerVictimsAndItsPatients2

Happy Mass Tort Monday from your Favorite Mass Tort Attorney. Another busy week in the world of Mass Torts where we will be covering: Roundup - how does the 3rd Circuit's ruling and upcoming trials impact this litigation? Weight Loss - one year since the first Weight Loss lawsuit was filed - where does this litigation stand? AFFF - update on bellwether process and what to expect in the remainder of 2024? J&J Talc - with another asbestos verdict last week, is J&J closer to filing for bankruptcy in the ovarian cancer litigation? What other topics would you like covered this week? #joedoeslaw #masstorts

📢 Landmark Settlement Alert: J&J Resolves Talc Powder Lawsuits! 💰Johnson & Johnson agrees to a $700 million settlement in talc powder lawsuits from multiple U.S. states, addressing deceptive marketing allegations. ⚖️ Core Allegation: J&J accused of concealing asbestos contamination in talcum powder, heightening risks of ovarian cancer and mesothelioma. 🫱🏻🫲🏼 This resolution, spanning over 40 states, clears all state-level lawsuits, past and potential. 🔍 Ripple Effect: This pivotal settlement clears the path for over 50,000 pending cases in the federal talcum powder class action MDL. ⚖️ EmergeXperts Tech Services offers support in navigating complex legal scenarios. Trust us for expert support in navigating legal challenges. #emergexperts #justiceprevails #talcum #masstort #settlement #claims #legalexpert #roundup #camplejeune #afff #nec #leadgeneration #intake #legalmarketing

🌟 Talcum Powder Litigation Update: March 2024 sees a robust 53,796 lawsuits pending in the MDL, with 139 new filings last month. 🚀 Despite a post-Johnson & Johnson bankruptcy attempt slowdown, new Talcum Powder Cancer Lawsuits persist, showcasing ongoing legal activity. 🏛️ Trust EmergeXperts Tech Services for strategic support in navigating talcum powder litigation complexities.🌐✨ #emergexperts #masstrot #justiceprevails #talcum #lawsuit #update #legalmarketing #leadgeneration #roundup #campleuje #marketing #afff #cpa #retainer

Johnson & Johnson made a third attempt in bankruptcy court to address the talc liabilities that have been a longstanding issue. This follows two unsuccessful tries to use Chapter 11 protection for a subsidiary. The subsidiary, Red River Talc LLC, filed for Chapter 11 as part of a proposed settlement related to cases linking talc in the company's baby powder to ovarian cancer. #JohnsonAndJohnson #BankruptcyCourt #TalcLiabilities #Chapter11 #BusinessNews

Sorrento Therapeutics have disputed allegations that they committed bankruptcy fraud, saying that a bank account and mailbox created in Texas justified a Chapter 11 filing in the state days later: https://bit.ly/3P2iakb We regularly undertake bankruptcy investigations to ensure our clients can make informed decisions throughout a bankruptcy case. Learn more at: https://bit.ly/48wvzI9 #Chapter11Bankruptcy #BankruptcyFraud #BankruptcyAttorney