Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S. [MSNBC.com]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: MSNBC.com
Johnson & JohnsonThose cases have for decades caused financial and public relations trouble for J&J, which contends that its now-discontinued talc baby powder and other talc products aresafeThe company recorded a charge of about $2.7 billion in the first quarter to raise its reserve for talc claims to about $11 billion.The deal, pending approval by claimants, would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.J&J will begin a three-month voting period for claimants, in hopes of reaching a 75% support threshold needed for a bankruptcy settlement that would end the litigation entirely and prevent future lawsuits. Claimants did not have the opportunity to vote in LTL Management’s previous bankruptcy cases, J&J executives said on a call with investors on Wednesday.J&J has the “significant support of the overwhelming majority of the claimants” based on conversations with their lawyers or representation, the executives added.“We
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FCX
Earnings
- 4/24/24 - Beat
FCX
Sec Filings
- 5/13/24 - Form 4
- 5/13/24 - Form 4
- 5/8/24 - Form 10-Q
- FCX's page on the SEC website