According to CNBC, a U.S. bankruptcy judge rejected Johnson & Johnson’s $10 billion talc settlement proposal on Monday. This marks the company’s third failed bankruptcy attempt to resolve over 60,000 lawsuits. Judge Lopez said J&J’s proposed settlement lacked enough support from cancer claimants. He also ruled it overreached by trying to shield companies not in bankruptcy, making the plan too flawed to proceed. J&J said it will not appeal the ruling but plans to fight the talc lawsuits in court rather than settle.
