Johnson & Johnson Asbestos Claims Continue: California Man Alleges Baby Powder Led to Rare Cancer
Portfolio Pulse from Vandana Singh
A California man, Emory Hernandez Valadez, has claimed that he developed a rare form of cancer due to exposure to asbestos in Johnson & Johnson's talc-based baby powder. Lawyers for Valadez are urging a jury to order Johnson & Johnson to pay heavy punitive damages, citing the company's conduct as negligent. Johnson & Johnson has consistently denied the presence of asbestos or any cancer-causing agents in its now-discontinued talc baby powder. A Johnson & Johnson subsidiary, LTL Management, filed for bankruptcy in April, proposing an $8.9 billion settlement for over 38,000 lawsuits to prevent further cases.
July 11, 2023 | 12:31 pm
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Johnson & Johnson is facing another lawsuit over asbestos claims in its talc-based baby powder. The company's subsidiary, LTL Management, filed for bankruptcy in April, proposing an $8.9 billion settlement for over 38,000 lawsuits to prevent further cases.
The ongoing legal issues related to asbestos claims could potentially have a negative impact on Johnson & Johnson's stock price in the short term. The company's subsidiary's bankruptcy filing and the proposed $8.9 billion settlement for over 38,000 lawsuits could also add financial strain on the company.
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