Johnson & Johnson issues statement on Third Circuit review petition

In a statement emailed to The Fly, Johnson & Johnson said that, "Our review petition raised significant concerns with the Third Circuit’s decision, both in how it applied the law to the facts of Judge Kaplan’s ruling, as well as the impracticality of the Third Circuit’s new legal standard. We will immediately move for a stay of this opinion so we can seek review directly from the U.S. Supreme Court. Today’s ruling ignores the facts established during the Bankruptcy Court’s trial regarding the appropriateness of LTL Management’s (LTL) formation and filing, as well as the Company’s intention to efficiently resolve the cosmetic talc litigation for the benefit of all parties, including current and future claimants. We continue to stand behind the safety of Johnson’s Baby Powder, which is safe, does not contain asbestos and does not cause cancer."