A Johnson & Johnson subsidiary has filed for bankruptcy for the third time in an effort to move forward with an $8 billion proposed settlement to resolve tens of thousands of lawsuits alleging that the company's talc products, including baby powder, caused cancer. The subsidiary, Red River Talc, made the filing in the U.S. Bankruptcy Court for the Southern District of Texas.
J&J is facing lawsuits from over 62,000 claimants who claim that its talc products were contaminated with asbestos and led to various cancers, including ovarian cancer. Despite the allegations, J&J maintains that its products are safe.
