Major legacy litigation (talc and related matters) remains primary overhang [developing]
Key Questions
What recent ruling affected Beasley Allen in the J&J talc litigation?
A federal judge disqualified Beasley Allen, which represented 11,000 clients, and blocked 83% of plaintiff votes. An appeal is likely to prevail according to reports. This is part of ongoing talc-related legacy litigation.
What is the status of the Maine wrongful death mesothelioma case against J&J?
A court allowed a Maine widower's wrongful death case against Johnson & Johnson to proceed. It involves mesothelioma claims. This adds to the approximately 74,000 outstanding claims.
What are the latest developments in J&J talc verdicts?
In Moore, a $950M punitive award was wiped out, leaving $16M compensatory. Other rulings include $42M asbestos, CA punitive cut, Philly $250k, and LA $40M. These contribute to the major litigation overhang.
What settlement discussions are ongoing for J&J talc cases?
There is buzz around a $6.5B settlement amid $10-15B total risk, with April 13 mediation scheduled. Approximately 74,000 claims remain. Monitor dockets, 8-K filings, and reserves for updates.
What other recent settlements has J&J reached?
J&J paid $65M to end a Tracleer antitrust case avoiding trial, accused of blocking generics. Separately, FCA/Risperdal settled for $257M. These are alongside the primary talc overhang.
Fed judge disqualifies Beasley Allen (11k clients), blocks 83% pl vote; Moore $950M puni wiped/$16M comp; $42M asbestos; CA puni cut; Philly $250k; LA $40M; Maine wrongful death mesothelioma case proceeds; ~74k claims; Apr13 mediation; $6.5B settl buzz ($10-15B risk); FCA/Risperdal $257M/Tracleer $65M. Monitor dockets/8-K/reserves.