Johnson & Johnson talc spinoff files for bankruptcy

Published: Oct. 15, 2021 at 6:35 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

MONTGOMERY, Ala. (WSFA) - Lawyers representing women who have sued Johnson & Johnson say they’re not backing down.

“They knew about it from the very beginning that they were causing this problem, they covered it up, and now they’ve been caught,” Jere Beasley with Montgomery-based Beasley-Allen Law Firm said Friday.

They allege that Johnson & Johnson’s talc body powder has caused ovarian cancer. In response to the lawsuits, J&J announced the creation of a new, separate subsidiary called LTL Management, LLC to manage the legal claims. At the very same time, J&J placed the subsidiary into bankruptcy.

According to the bankruptcy filing, J&J is proposing to create a $2 billion settlement fund. Beasley-Allen, which is representing many of the plaintiffs, said that’s nowhere near enough money to compensate the victims.

“This is a half of a trillion-dollar company with a credit ranking which is as good as the U.S. government, if not better, and they’re claiming poverty when they have killed tens of thousands if not 100,000 of women in the last 100 years. I mean, this is ridiculous,” Beasley-Allen’s Ted Meadows said.

According to the law firm, medical expenses related to ovarian cancer often exceed $500,000 per victim.

They say Johnson & Johnson is hiding behind bankruptcy instead of doing what is right.

Copyright 2021 WSFA 12 News. All rights reserved.