Attorney Greg Gordon, a partner at the Jones Day law firm, offered an innovative solution to Johnson & Johnson and other major companies that faced mountains of lawsuits alleging their products sickened or killed people: They could use the bankruptcy system to force all plaintiffs into one settlement. It required fancy legal footwork—creating a subsidiary…
Corporate Lawsuit Dodge Imperiled After Court Rejects J&J Bankruptcy Tactic
US Court Rejects J&J Bankruptcy Strategy for Thousands of Talc Lawsuits
A U.S. appeals court on Monday shot down Johnson & Johnson’s attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend U.S. corporate liability law. J&J is among four major companies that have…
US Fines J&J $9.75 Million Over Kickbacks to Surgeon for Overseas Surgeries
Johnson & Johnson and its DePuy Synthes unit will pay $9.75 million to settle U.S. Department of Justice accusations that DePuy illegally provided free products to a Massachusetts surgeon who used them in spinal surgeries in six Middle Eastern countries. According to settlement papers, the surgeon used more than $100,000 of DePuy’s implants and instruments…
J&J May Eye Deals That Boost Eye Care, Surgical Robots Businesses: CEO
Johnson & Johnson will look for opportunities to merge with or acquire firms that add value to its focus areas of eye care, surgical robots, orthopedics and cardiovascular products, the company’s Chief Executive Officer Joaquin Duato said on Monday. The healthcare giant is in the process of spinning off its consumer healthcare business under the…
Johnson & Johnson’s Blood Cancer Therapy Gets FDA Approval
The Food and Drug Administration (FDA) has approved Johnson & Johnson’s therapy for treating a type of multiple myeloma, the company said on Tuesday, giving another treatment option to patients with the incurable blood cancer. J&J’s teclistamab, branded as Tecvayli, is approved for treating adults with multiple myeloma that is hard to treat or has…
Johnson & Johnson Looks at Job Cuts Despite Weathering Inflation Impact
Johnson & Johnson on Tuesday posted better than expected third-quarter earnings on strong demand for its cancer drug Darzalex, but said it may still cut some jobs as it contends with inflationary pressure and challenges created by the strong dollar. J&J Chief Financial Officer Joseph Wolk said the U.S. healthcare conglomerate is looking at “right…
Johnson & Johnson Reaches $205 Million Settlement in Australian Pelvic Mesh Class Action
Johnson & Johnson (J&J) has reached a A$300 million ($204.90 million) settlement in two Australian class action suits filed by Shine Lawyers for selling defective pelvic mesh implants to Australian women, the law firm said on Monday. The settlement, which Shine Lawyers said was the largest settlement in a product-liability class action in Australian history,…
Parliamentary Probe Into Partygate Is ‘Witch Hunt’ Say Johnson Allies
Allies of British Prime Minister Boris Johnson have spoken out against who they consider part of a “witch hunt” by a parliamentary committee that could lead to the outgoing prime minister’s removal from Parliament. Still Johnson’s detractors, including at least one MP inside Johnson’s own party, say that the work of the committee is fair…
With ‘Bogeyman’ Johnson Gone, Will Scottish Independence Bid Falter?
As the curtain prepares to fall on the British Prime Minister Boris Johnson’s premiership “serious political gamesmanship” will determine Scotland’s future after its devolved government threw down the gauntlet on independence, according to political observers. The leader of the Scottish National Party and Scotland’s First Minister, Nicola Sturgeon, has declared her government’s aim to make…
Tory Rebellion Against Johnson Grows as Senior Figure Warns of Electoral Losses
Discontent in the ranks of the UK Tory party is growing because MPs fear they may lose their seats over the Downing Street lockdown parties fallout, a former cabinet minister has said. Boris Johnson critic David Davis said his colleagues “see their own seats disappearing” as Tory popularity continues to languish in the wake of…
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