Johnson & Johnson Puts Money Aside for Talc Verdict
In a securities filing in February 2021, Johnson & Johnson announced that it had set aside nearly $4 billion in litigation expenses in 2020 “primarily associated with talc-related reserves and certain settlements.” There are more than 25,000 talcum powder lawsuits nationwide based on claims that talcum powder products caused their ovarian cancer. The majority of the talcum powder lawsuits are pending in the multidistrict litigation in the New Jersey federal court. However, there are also state court cases ongoing in New Jersey, Missouri, and California.
This information comes to light after a $4.7 billion verdict (later reduced to $2.1 billion) was awarded to 22 women who alleged that Johnson & Johnson’s Baby Powder caused their ovarian cancer.
The 2018 $4.7 billion verdict was cut by the Missouri Court of Appeals in June 2020 because the Court held the conduct of Johnson & Johnson’s subsidiary could not be imputed to Johnson & Johnson as a whole. However, the Missouri Appeals Court refused to completely overturn the verdict because the trial evidence demonstrated that Johnson & Johnson’s conduct “was outrageous.”
Johnson & Johnson is currently appealing the decision to the U.S. Supreme Court asking for the verdict to be thrown out entirely.
Despite pulling talc-based products from the U.S. and Canadian markets in May 2020 due to a decline in consumer demand and “misinformation” about the safety of the products, Johnson & Johnson still contends that their talc products are safe.
What Does This Mean?
This news does not mean that there is a settlement for the talcum powder litigation; however, it does mean that Johnson & Johnson has been putting money aside in anticipation of potentially resolving cases.
How GoldenbergLaw Can Help
If you or a loved one developed ovarian cancer after using Johnson & Johnson’s talcum powder products, contact the Minnesota Talcum Powder Attorneys at GoldenbergLaw today for a free consultation. We have provided the Gold standard of advocacy for more than thirty years, and you can leave the sleepless nights to us!