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DewDiligence

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DewDiligence

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Re: DewDiligence post# 1027

Saturday, 07/29/2023 2:52:47 PM

Saturday, July 29, 2023 2:52:47 PM

Post# of 1050
Bankruptcy judge tosses JNJ’s proposed talc settlement:

https://www.wsj.com/articles/johnson-johnsons-second-talc-bankruptcy-case-thrown-out-74a63a13

A New Jersey bankruptcy judge threw out the second chapter 11 case that Johnson & Johnson filed to resolve its mass talc liabilities, again shutting down the healthcare-product company’s plan to achieve an $8.9 billion settlement [see #msg-171617699].

Judge Michael Kaplan of the U.S. Bankruptcy Court in Trenton, N.J., said that J&J affiliate LTL Management LLC, created to carry the company’s talc-related liabilities into bankruptcy, wasn’t in sufficient financial distress to warrant granting it the legal protections of chapter 11.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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