J&J settles first talc cases to go to trial after failed bankruptcies
Reuters
Published Nov 16, 2023 06:33PM ET
Updated Nov 16, 2023 06:46PM ET
By Brendan Pierson
(Reuters) - Johnson & Johnson (NYSE:JNJ) on Thursday said it has settled two lawsuits claiming its talc products caused cancer, the first such cases to go to trial since a federal court rejected the company's plan to move its talc liabilities into bankruptcy court.
The settlements resolved lawsuits brought by two men, Rosalino Reyes and Marlin Eagles, who said they developed mesothelioma related to asbestos in J&J talc powder, and was part of a broader deal to settle all talc cases brought by the law firm representing them, Kazan, McClain, Satterley & Greenwood, the company said. Reyes' family continued his lawsuit after he died in 2020.
The company faces more than 50,000 lawsuits over talc, most by women with ovarian cancer. It has said that its talc products are safe and do not contain asbestos.
J&J and the plaintiffs' lawyers did not disclose any terms of the settlement, or how many cases it covered. Reyes' trial had begun last week, while Eagles' was about to begin, with a jury chosen.
"The Eagles and the Reyes families express thanks to the jurors and courtroom personnel who participated in the trial," Joseph Satterley and Denyse Clancy, attorneys for the plaintiffs, said in a joint statement.
"Our negotiations continue with the remaining firms who have a shared interest in achieving a fair and expedient resolution of their clients talc claims," J&J said in a statement.
"For those firms who elect not to pursue reasoned resolutions, we will continue to aggressively litigate their claims in the tort system, where we have prevailed in the overwhelming majority of the cases tried because the claims are meritless and are based upon junk science."
Trials in the cases have a mixed record, with major plaintiff wins including a $2.1 billion judgment awarded to 22 women with ovarian cancer. A New Jersey appeals court last month threw out a $223.7 million verdict against the company, finding the testimony of the plaintiffs' expert witnesses unsound.
The company stopped selling talc-based baby powder in favor of cornstarch-based products, citing an increase in lawsuits and "misinformation" about the talc product's safety.
The settlement comes after J&J failed for a second time in July to move tens of thousands of claims over talc into bankruptcy court, where it hoped to resolve them through a proposed $8.9 billion settlement. It is appealing that ruling.
Get The News You Want
Trials had mostly been on hold while J&J petitioned the bankruptcy court, but have now been able to resume.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.