Johnson & Johnson agrees to $700 million settlement over talc products
baby powder. This agreement comes after extensive scrutiny over claims that these products caused cancer.
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Details of the Allegations
Want a Loan? Get cash against your Mutual Funds in 4 hoursThe settlement addresses accusations that Johnson & Johnson's talc products, which have been sold for over a century, contained asbestos and led to ovarian cancer and mesothelioma. Despite the settlement, the company has not admitted to any wrongdoing and continues to assert that its talc products are safe and asbestos-free.
Statements from Attorneys General
Florida Attorney General Ashley Moody emphasized the significance of the settlement, stating, «This is a major advancement for consumer product safety.» New York Attorney General Letitia James remarked, «No amount of money can undo the pain caused by Johnson & Johnson's talc-laced products, but today families can rest assured that the company is being held accountable for the harm it caused.»
Legal Battles and Financial Strategies
Johnson & Johnson has faced approximately 61,490 lawsuits related to its talc products, most of which involve women diagnosed with ovarian cancer. Some plaintiffs also have mesothelioma, a cancer attributed to asbestos exposure. In an effort to manage the litigation, J&J created a subsidiary, LTL Management LLC, to handle talc
