Reports: Johnson & Johnson Clears 75 Percent Participation Threshold in Talc Bankruptcy Proposal

NEW BRUNSWICK, N.J. –– Johnson & Johnson has cleared a 75 percent participation threshold in its latest bankruptcy proposal that would allocate $6.5 billion to talcum powder ovarian cancer cases, according to published reports.

According to an Aug. 12 Bloomberg report, more than 75 percent of the proposed plaintiff group agreed to the proposal by way of secret voting that ended on July 26. The report noted that the results have not yet been certified.

Johnson & Johnson’s Plan of Reorganization by its subsidiary LLT Management LLC for the “comprehensive and final resolution of all current and future claims …