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J&J effort to resolve talc lawsuits in bankruptcy fails a second time

2023-07-29 04:47
By Dietrich Knauth NEW YORK (Reuters) -A U.S. judge on Friday shot down Johnson & Johnson's second attempt to resolve
J&J effort to resolve talc lawsuits in bankruptcy fails a second time

By Dietrich Knauth

NEW YORK A U.S. judge on Friday shot down Johnson & Johnson's second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 billion settlement that would stop new lawsuits from being filed.

U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that J&J company's second bankruptcy, like its first, must be dismissed because the company was not in "financial distress."

(Reporting by Dietrich Knauth; editing by Jonathan Oatis)