Johnson & Johnson Offers Nearly $9 Billion , to Settle Talcum Powder Lawsuits.<br />NPR reports that on April 4, Johnson & Johnson announced a proposal to settle allegations that its product caused cancer.<br />Under the proposal, LTL Management, <br />a J&J subsidiary, will re-file for <br />Chapter 11 bankruptcy protection.<br />It would also receive $8.9 billion from J&J to be paid out to claimants over the next 25 years. .<br />Erik Haas, J&J’s worldwide vice president <br />of litigation, issued a statement.<br />Resolving this matter through the proposed reorganization plan is both more equitable and more efficient, allows claimants to be compensated in a timely manner, , Erik Haas, J&J’s worldwide vice president of litigation, via statement.<br />... and enables the company to remain focused on our commitment to profoundly and positively impact health for humanity, Erik Haas, J&J’s worldwide vice president of litigation, via statement.<br />However, J&J still denies any wrongdoing. .<br />The company continues to believe that these claims are specious and lack scientific merit, Erik Haas, J&J’s worldwide vice president of litigation, via statement.<br />CNBC reports that Leigh O’Dell, an <br />attorney for the plaintiffs, said J&J is , "seeking an extremely deep discount on justice and <br />is not really offering anything other than another bankruptcy and more delay, delay, and delay.".<br />CNBC reports that Leigh O’Dell, an <br />attorney for the plaintiffs, said J&J is , "seeking an extremely deep discount on justice and <br />is not really offering anything other than another bankruptcy and more delay, delay, and delay.".<br />This new filing should be viewed as a shameful attempt to run out the clock on people dying of cancer and convince some lawyers to give up, Leigh O’Dell, an attorney for the plaintiffs, via statement.<br />Last year, J&J announced that it would stop selling its talc-based products worldwide.
