Johnson & Johnson won a temporary halt to more than 40,000 claims that the company’s baby powders caused cancer, but could see more lawsuits filed in the meantime, Steven Church and Jonathan Randles of Bloomberg report. Bankruptcy Judge Michael Kaplan said J&J won’t have to go to trial over any talc lawsuits in the coming weeks, but is allowing new lawsuits to be filed and for discovery to continue in existing cases, the journalists note. The limited pause is designed to give J&J’s bankrupt unit, LTL Management, time to try to win court approval of an $8.9B settlement, they add. Shares of Johnson & Johnson rose following the ruling and are up 66c to $163.22 in midday trading.
Published first on TheFly
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