Johnson & Johnson Employs Bankruptcy Strategy to Cap Litigation Payouts

The massive healthcare and consumer goods company, Johnson & Johnson (J&J), has faced an onslaught of lawsuits over asbestos-contaminated talcum powder for over a decade.  In an apparent effort to cap cancer victim payout liabilities the J&J shifted liability for tens of thousands of talcum powder lawsuits to a newly created subsidiary that promptly filed for bankruptcy. Read more here.

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