Lawyers for Johnson & Johnson’s Ovarian Cancer Victims React to SCOTUS Decision in Purdue
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Johnson & Johnson (JNJ)
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Source: Business Wire
Beasley Allen: ‘We believe this decision should spell doom for J&J’s third bankruptcy plan’ WASHINGTON--(BUSINESS WIRE)--The U.S. Supreme Court has denied a $7 billion Purdue Pharmaceuticals bankruptcy plan which would have given the Sackler family, which founded the company, immunity from additional liability for their irresponsible actions in promoting the deadly use of opioids to the public and physicians.The Sackler family had agreed to provide up to $6 billion in funding in exchange for immunity from further legal action while protecting billions in other assets. But the court ruled 5-4 that bankruptcy law does not permit that kind of protection.The decision has significant implications for ongoing efforts by Johnson & Johnson (NYSE:JNJ) to seek bankruptcy protection in an effort to resolve tens of thousands of ovarian cancer claims tied to the use of the company’s talc-based products, including the Johnson’s Baby Powder and Shower to Shower brands.In response, the following i
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- 4/16/24 - Beat
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- 6/25/24 - Form 11-K/A
- 6/24/24 - Form 11-K
- 6/24/24 - Form 11-K
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