Plaintiffs' Attorneys Representing Talc-Cancer Victims Form Ad Hoc Committee to Support J&J Settlement

Rhea-AI Summary

Lawyers for around 55,000 plaintiffs in the lawsuit against Johnson & Johnson (JNJ) over cancer-linked talcum powder have formed an Ad Hoc Committee. They support an $8.9 billion settlement aimed at resolving a lengthy legal battle. LTL Management, a J&J subsidiary, is again filing for Chapter 11 bankruptcy to create a trust for compensating affected victims.

The proposed settlement includes removing all talc-based products globally and ensuring compensation for current claimants within a year. The Ad Hoc Committee, which has retained bankruptcy counsel, needs a 75% claimant approval for the settlement to pass. This follows scientific evidence linking J&J's products to serious health issues, as well as previous bankruptcy attempts that were rejected by the courts.

Positive

• Settlement aims to resolve a decade-long legal dispute with a significant $8.9 billion compensation fund for victims.
• Commitment to remove talc-based products from shelves worldwide.
• Quick compensation pledge for current claimants within one year.

Negative

• Ongoing litigation and settlement costs may affect future profits.
• Previous bankruptcy filings were rejected, raising concerns about the effectiveness of legal strategies.

Leadership committee seeks to bring resolution to decade-long legal battle

ST. LOUIS, April 21, 2023 /PRNewswire/ -- Lawyers representing approximately 55,000 plaintiffs in the litigation against Johnson & Johnson (NYSE: JNJ) over its cancer-causing talcum powder products have formed an Ad Hoc Committee to support an $8.9 billion deal that would end a decade-long legal battle against the pharmaceutical giant.

To view the ad hoc statement, click here.

J&J subsidiary, LTL Management, filed Chapter 11 bankruptcy a second time to resolve claims by establishing an $8.9 billion trust to compensate cancer victims. Once approved, J&J has committed to paying all current claimants within one year and removing all talc-based products from store shelves worldwide.

"These victims and their families have waited long enough for fair compensation," said trial lawyer Majed Nachawati, founding partner of Dallas-based Nachawati Law Group. "Although no amount of money can replace what these families have lost, we are proud to be a part of ad hoc leadership to resolve this litigation and finally bring some sense of peace to our clients."

The Ad Hoc Committee has retained Paul Hastings, Cole Schotz, and Parkins & Rubio LLP as co-bankruptcy counsel. The Ad Hoc Committee is comprised of attorneys from Nachawati Law Group; OnderLaw, LLC; Watts Guerra LLP; Wisner Baum; Pulaski Kherkher, PLLC; Ferrer, Poirot, Wansbrough; Feller & Daniel; Rueb, Stoller & Daniel, LLP; Linville Law Group; Slater Slater Schulman LLP; Johnson Law Group; McDonald Worley; Trammell PC; Andres Pereira Law Firm; and Jenn Liakos Law.

Seventy-five percent of claimants must vote to approve the settlement. The Ad Hoc Committee is believed to hold a supermajority of talc claims against J&J.

Scientific studies linked J&J products to serious illnesses and cancers more than a decade ago. An investigation into J&J's own records revealed that not only did the company know of the dangers and risks associated with its products, including the iconic Baby Powder, but it also hid those facts from unsuspecting consumers for years. The initial bankruptcy ploy, in which the company dumped jury verdicts from thousands of cancer lawsuits into a shell company before filing for Chapter 11 protection, was rejected by the Third Circuit Court of Appeals.

Nachawati Law Group represents individuals in mass tort litigation, businesses and governmental entities in contingent litigation, and individual victims in complex personal injury litigation.

For more information visit https://ntrial.com/

Media Contact:    
Alyssa Woulfe   
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alyssa@androvett.com

View original content:https://www.prnewswire.com/news-releases/plaintiffs-attorneys-representing-talc-cancer-victims-form-ad-hoc-committee-to-support-jj-settlement-301804295.html

SOURCE Nachawati Law Group

FAQ

What is the recent update on Johnson & Johnson's talcum powder lawsuit?

Lawyers representing 55,000 plaintiffs formed an Ad Hoc Committee to support an $8.9 billion settlement to resolve claims against J&J.

How much is Johnson & Johnson's proposed settlement for talcum powder claims?

The proposed settlement is $8.9 billion.

What does the <b>$8.9 billion</b> settlement entail for J&J?

The settlement includes compensation for cancer victims and the removal of talc-based products from sale worldwide.

What percentage of claimants need to approve the J&J settlement?

Seventy-five percent of claimants must vote to approve the settlement.

Why did LTL Management file for Chapter 11 bankruptcy again?

LTL Management filed for Chapter 11 to establish a trust for compensating cancer victims as part of the proposed settlement.