LLT Management LLC Establishes Bankruptcy Plan Voting Deadline Related to Talcum Powder Litigation

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Jun 10, 2024, 08:00 ET

BEAVERTON, Ore., June 10, 2024 /PRNewswire/ -- Johnson & Johnson and its subsidiary, LLT Management LLC (collectively referred to as "the companies"), have agreed to pay approximately $8 billion nominal over 25 years to individuals who claim that talcum powder products made them sick. Individuals who believe they became sick from using J&J products containing talc, such as Johnson's Baby Powder and Shower to Shower, may have the opportunity to vote on a bankruptcy plan that outlines how claims will be paid. This is being released by Epiq Corporate Restructuring, LLC the balloting and solicitation agent for LLT Management LLC ("LLT").

The companies maintain that their products are safe, do not contain asbestos, and do not cause cancer or other illnesses. Notably, Johnson & Johnson discontinued Johnson's talc-based Baby Powder in May 2020 and sold Shower to Shower to another company in 2012.

What is the Plan?

The Plan commits the Company to pay ovarian claimants a present value of approximately $6.475 billion to be paid over 25 years.
Under the Plan, a multi-billion-dollar trust will be established to pay current and future talc claims related to ovarian cancer. If the Plan is approved, claimants will not be able to bring lawsuits against the companies or other parties for any talc-related claims covered by the Plan.
J&J and LLT have won approximately 95% of ovarian cancer cases tried to date, including every ovarian cancer case tried over the last six years. Based on the historical run rate, if the Plan is not approved, it could take decades to litigate the remaining cases, potentially preventing most claimants from ever having "their day in court."
While the solicitation of the Plan is pending, J&J and LLT remain committed to litigating in the tort system against claimants who elect not to settle, including challenging the scientific validity of the claimants' experts.

How Can Claimants Vote on the Plan?

Information about how to vote is provided in a solicitation package, which includes details on the proposed bankruptcy, the Plan, and a ballot.
Claimants must cast their vote to accept or reject the Plan by 4:00 p.m. (Central Time) on July 26, 2024.

What If a Claimant Has Already Filed a Talc Claim?

Claimants or their attorneys will receive a solicitation package.
If a Claimant has not received a solicitation package, they can request one by visiting www.OfficialTalcClaims.com or calling 1-888-431-4056.

What If a Claimant Has Not Filed a Talc Claim?

Visit www.OfficialTalcClaims.com or call 1-888-431-4056 to request a solicitation package to determine whether you can vote on the Plan.

When Will the Court Decide on the Plan?

If the Plan is accepted by at least 75% of voters, a bankruptcy may be filed under the case name In re: Red River Talc LLC.
This will take place in a bankruptcy court in Texas or in the bankruptcy court of another jurisdiction. A hearing to confirm the Plan will be scheduled and further notifications will be issued if the court sets a deadline for objections.

Additional Questions?