New York Reuters —
Johnson & Johnson is moving forward with a $6.475 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer, the company said Wednesday in a statement.
The deal would allow it to resolve the lawsuits through a third bankruptcy filing of a subsidiary company. It will begin a three-month voting period in hopes of reaching consensus on a settlement of all current and future ovarian cancer claims. Ovarian cancer claims account for 99% of the talc-related lawsuits filed against J&J (JNJ), including about 54,000 lawsuits that
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