A Johnson & Johnson subsidiary has filed for bankruptcy a second time and upped their settlement offer from $2 billion to $8.9 billion in response to tens of thousands of lawsuits by customers who say its talc products caused their cancer. This comes after an appeals court in January rejected an earlier attempt by J&J to offload its lawsuits onto a spinoff company and file that entity for bankruptcy. J&J heavily marketed its baby powder to African American women for years, with the knowledge its talc products contained asbestos.
Topics: