J&J subsidiary files for bankruptcy for third time to settle talc lawsuits

A Johnson & Johnson subsidiary filed for bankruptcy protection for the third time in an effort to resolve the tens of thousands of lawsuits claiming its baby powder and other talc products caused cancer.Red River Talc LLC filed a voluntary prepackaged Chapter 11 bankruptcy case in the U.S. Bankruptcy Court for the Southern District of Texas to end all current and future claims related to ovarian cancer arising from its products. Under its latest settlement proposal, Red River agreed to pay $8 billion to cla ...