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Johnson & Johnson is trying to file for bankruptcy. They are taking it to the Supreme Court for protection against the litigation results of their products potentially causing cancer. (www.thestreet.com)

submitted 2 years ago by trashmonkey@lemmy.world to c/news@lemmy.world

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[–] fmstrat@lemmy.nowsci.com 7 points 2 years ago

The bankruptcy is a plan in place with counsel representing claimants so they can free up cash reserves and pay them.

Notably, our appeal recently was joined by counsel representing the vast majority of the talc claimants," he said.

They don't have enough cash on hand, so they bankrupt part of the company and sell.

Everyone should read the article.

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