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An update from Johnson & Johnson ( (JNJ) ) is now available.
Red River Talc LLC, a subsidiary of Johnson & Johnson, has filed for a voluntary prepackaged Chapter 11 bankruptcy in order to settle all current and future ovarian cancer claims related to its cosmetic talc products. Garnering the support of 83% of the claimants, the company has increased its settlement offer by $1.75 billion, bringing the total to approximately $8 billion. This strategic move is aimed at providing a fair resolution and is supported by a representative for future claims, ensuring a better outcome for claimants than prolonged litigation.
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