Johnson & Johnson Faces Legal Hurdle In Talc Lawsuit Battle
Portfolio Pulse from Vandana Singh
Johnson & Johnson (NYSE:JNJ) faced a legal setback as a New Jersey judge rejected its bid to disqualify the law firm Beasley Allen from representing plaintiffs in talc-related cancer claims. This complicates JNJ's attempt to resolve over 60,000 claims through a $6.48 billion bankruptcy plan. The company plans to appeal the ruling.
July 22, 2024 | 12:08 pm
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Johnson & Johnson faced a legal setback as a judge rejected its bid to disqualify Beasley Allen from representing plaintiffs in talc-related cancer claims. This complicates JNJ's attempt to resolve over 60,000 claims through a $6.48 billion bankruptcy plan. The company plans to appeal the ruling.
The rejection of JNJ's bid to disqualify Beasley Allen complicates its legal strategy and bankruptcy plan, potentially leading to increased legal costs and prolonged litigation. This negative development is likely to impact JNJ's stock price in the short term.
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