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New J&J subsidiary to absorb talc lawsuit liabilities
By Sarah Houlton2021-10-21T13:30:00
Source: © Justin Sullivan/Getty Images
Firm aims to use bankruptcy protection and a $2bn trust to resolve thousands of cancer claims
Johnson & Johnson (J&J) has hived off its talc litigation and liabilities into a new US subsidiary. This entity, LTL Management, has filed for Chapter 11 bankruptcy protection. The manoeuvre comes in the wake of ongoing legal action from many thousands of plaintiffs who claim asbestos in J&J talc products caused their cancer.
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