J&J Seeks 3rd Talc-Related Bankruptcy: Time to Sell the Stock?

Last week, Johnson & Johnson (JNJ) filed for voluntary bankruptcy for the third time in an attempt to bring an end to thousands of lawsuits related to its talc products. J&J filed for Chapter 11 bankruptcy in a bankruptcy court in Texas via a subsidiary called Red River Talc.J&J’s Talc Suits and Bankruptcy AttemptsJ&J faces more than 62,000 lawsuits for its talc-based products, primarily its baby powders. The lawsuits allege that its talc products contain asbestos, which caused many women to develop ovarian ...