Johnson & Johnson Files for Bankruptcy Over Talc Lawsuits for the Third Time

Johnson & Johnson (JNJ) , via its subsidiary called Red River Talc, for the third time, filed for voluntary bankruptcy to resolve thousands of lawsuits related to its talc products. Red River Talc has filed for Chapter 11 bankruptcy to equitably resolve all of JNJ’s present and future talc-related claims in a bankruptcy court in the Southern District of Texas.JNJ faces more than 62,000 lawsuits for its talc-based products, primarily its baby powders. The lawsuits allege that its talc products contain asbest ...