Ovarian Cancer Victims Lawyers Call on Regulators to End Johnson & Johnson’s ‘Despicable’ Bankruptcy Plan
Report: company threatens to file for bankruptcy to avoid liability in more than 30,000 talc and ovarian cancer cases
MONTGOMERY, Ala., July 18, 2021 / PRNewswire / – Lawyers representing several thousand women diagnosed with ovarian cancer after being exposed to Johnson & Johnson baby powder (NYSE: JNJ) and other talc products speak out against the company about information that she is considering bankruptcy to avoid financial liability.
“It’s about as contemptible as it gets,” the lawyer said Leigh O’Dell of Beasley Allen, lead co-counsel on the plaintiff’s steering committee in a federal multidistrict (MDL) litigation at New Jersey. “These women have suffered enough. If this report is true, we believe it is time for Congress and the Securities and Exchange Commission to investigate and ban cash-rich companies from playing board games and using the law. federal bankruptcy to avoid paying the victims they ‘I hurt and misled.’
According to a July 28 Reuters news agency report, “Exclusive: J&J plans to bankrupt talc liabilities – sources “, the company, which benefits from 443 billion dollars market capitalization, is considering bankruptcy to limit financial exposure to thousands of lawsuits related to its talc-based products, including Johnson’s Baby Powder and Shower to Shower brands.
Dozens of studies published in peer-reviewed journals over the past 25 years have shown a statistically significant association between talcum use and ovarian cancer. Documents produced at the trial show that the company was aware of the possible dangers as early as the 1960s.
Since 2013, juries in numerous trials have found J&J liable for compensatory and punitive damages for ovarian cancer victims, although many verdicts have subsequently been overturned by appellate courts on grounds of jurisdiction, but not on the merits of the case.
Last year, a Missouri appeals court seized a $ 2.1 billion judgment against the company. The judges found “significant reprehensibility” in J&J’s handling of the problem of asbestos in its baby powder and concluded that J&J was avoiding “taking more precise measures to detect asbestos”, while discussing the risk of asbestos from the powder in internal notes and until recently refusing talc in its baby powder with corn starch, which does not present a risk of cancer.
The Missouri Supreme Court and the United States Supreme Court both refused to overturn the sentence. Filing for bankruptcy could drastically reduce the compensation available to the remaining claimants and prevent them from having their day in court.
“Creditworthy companies should not be able to abuse bankruptcy proceedings to shirk their responsibilities,” litigator said Michelle Parfitt, Co-Senior Advisor at Federal Talc Law Firm MDL and Senior Partner at Ashcraft & Gerel Law Firm. “It would be corporate welfare of the worst kind. And who would suffer the most? Women who have already lost so much to J&J’s behavior. I think they are trying to intimidate them by threatening to do so. bankruptcy. It won’t work. “
About Beasley Allen Law Firm
Based at Montgomery, Ala., Beasley Allen is made up of more than 70 lawyers and 200 support staff. One of the largest plaintiff law firms in the country, Beasley Allen is a national leader in civil litigation, with verdicts and settlements exceeding $ 26 billion. For more information visit www.beasleyallen.com.
Androvett Legal Media
SOURCE Beasley Allen Law Firm