J&J strategy to shed talc liabilities prohibited by federal court

Investment Analysis Clubs Macro Economic Trends and Risks
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Apparently, J&J’s spin off of it’s consumer products division (and, if the "Texas two-step fails, it’s talc liability) is supposed to happen in October or November of 23. I’m pretty sure that spinoff is set up to fail, because it’s mostly about dumping the talc liability.

Steve

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Here is Reuters explainer of the latest in the JnJ Texas Two Step:

https://www.reuters.com/investigates/special-report/usa-lawsuits-johnson-and-johnson-bankruptcy/?utm_source=Sailthru&utm_medium=Newsletter&utm_campaign=One-Essential-Read&utm_term=070824&user_email=bbaf9c73703c337b5385a8379012d4912bdc3ca0df3872df2f9238ceb9b03bcd&lctg=61c396bc5a9815429e671684

Apparently JnJ is/has moved the case to Texas, and is soliciting “as many cases as possible, any and everyone even remotely connected” to file claims and then vote “for the BK and settlement agreement”.

The BK is apparently not yet filed. JnJ wants the claimants to vote FOR the BK, before it’s filed.

Fascinating.
The overall summary, IMO, is delay delay delay… Until lots of ill/sick have died.
Ala Erin Brockovich, and other such legal stories.

:us_outlying_islands:
ralph

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