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Around 40,000 allegations of people saying that its talc-based baby powder caused their cancer. this is not even an exhaustive list. this is just an example of one case list. and so what they say is, look, this is a solution. we filed for bankruptcy through this texas two-step maneuver. so in october of 2021 johnson & johnson executes what is known as the texas two-step. johnson & johnson took its consumer products business and merged it with a newly created entity in texas. it then immediately split that entity in two. one of the segments, which is now known as ltl management llc, was left holding all of the liabilities of the talc lawsuits. ltl immediately filed for bankruptcy in north carolina. ....
A United States bankruptcy judge ordered to halt thousands of J&J talc lawsuits as the pharmaceutical company works toward a massive $8.9 billion settlement. ....