Johnson & Johnson's (J&J) endeavor to reach an $8.9 billion settlement and seek bankruptcy protection for talc-related lawsuits has been denied for the second time, as of July 30, 2023. The decision came from Judge Michael Kaplan of the U.S. Bankruptcy Court in New Jersey, who ruled that the company's financial situation was not critically dire, as reported by the New York Times . The rejection prompts J&J to challenge the verdict robustly, vowing to counter the lawsuits that they deem lacking in scientific basis, according to Reuters . In response to the wave of legal actions alleging that J&J's talc-infused baby powder contained cancer-causing asbestos, the corporation established a subsidiary called LTL Management in 2021. The subsidiary filed for Chapter 11 bankruptcy protection, a move contested by J&J, leading to a series of legal maneuvers. The initial appeal was turned down in March 2023, with AboutLawsuits.com noting that the parent company had
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