WASHINGTON, July 29, 2021 /PRNewswire/ — More than 30,000 women cancer victims would retain their constitutional right to have juries decide if talc in Johnson & Johnson’s (NYSE:JNJ) baby products caused their ovarian cancer under bankruptcy reforms proposed Wednesday by key lawmakers in the U.S. Senate and House of Representatives.
The Nondebtor Release Prohibition Act of 2021 would close controversial bankruptcy loopholes, including non-consensual third-party releases and the so-called “Texas Two-Step.” Recent media reports indicate that Johnson & Johnson with a market cap of more than $400 billion is contemplating bankruptcy to avoid paying claims and damages that would likely cost a fraction of that amount. In a quarterly earnin…
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