Civil Plaintiff

Judge Rejects J&J $10M Talc Settlement

Shares of Johnson & Johnson (JNJ.N), fell more than 5% on Tuesday after a U.S. bankruptcy judge rejected its $10 billion proposal to end tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer.

This is third time that the healthcare conglomerate’s bankruptcy strategy has failed in court. It faces lawsuits from more than 60,000 claimants alleging its baby powder and other talc products contained asbestos and caused ovarian cancer.

Read more at Reuters.

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