Equitable Resolution of All Current and Future Talc Claims
On October 14, 2021, LTL Management LLC, a subsidiary of Johnson & Johnson, voluntarily filed for Chapter 11 bankruptcy protection. This action was taken to resolve all claims related to cosmetic talc in a manner that is equitable to all parties, including any current and future claimants.
Johnson & Johnson and its other affiliates did not file for bankruptcy protection and will continue to operate their businesses as usual.
To demonstrate its commitment to resolving the cosmetic talc cases and remove any financial objections to the process, Johnson & Johnson has agreed to provide funding to LTL for the payment of amounts the Bankruptcy Court determines are owed by LTL and will also establish a $2 billion trust in furtherance of this purpose. In addition, LTL has been allocated certain royalty revenue streams with a present value of over $350 million to further contribute to potential costs.
Information and Resources
Johnson & Johnson Takes Steps to Equitably Resolve All Current and Future Talc Claims