Reports: Johnson & Johnson Considering Third Bankruptcy Filing for Talcum Powder Claim Settlement

NEW BRUNSWICK, N.J. –– Johnson & Johnson told investors in an earning’s call that it is considering filing a third Chapter 11 bankruptcy to facilitate the settlement of talcum powder claims, according to several published reports.

Johnson & Johnson’s Worldwide Vice President for Litigation, Erik Haas, stated during the Oct. 17 call that the company is working with law firms that represent the “vast majority” of talcum powder plaintiffs to settle all current and future cases, reports said.

“We’re pursuing a consensual resolution of the talc claims through another bankruptcy,” Haas stated, according to a Bloomberg report.

In an …