Allen Smith of the Smith Law Firm in Ridgeland, Mississippi. Courtesy photo Did Johnson & Johnson's Proposed $8B Talc Bankruptcy Plan Just Jump to $9.1B?
More than a decade after taking on Johnson & Johnson with the first trial linking baby powder to ovarian cancer, attorney Allen Smith on Wednesday signed off on a proposed bankruptcy plan after negotiating for an additional $1 billion.
September 05, 2024 at 05:32 PM
4 minute read
Mass Torts
The original version of this story was published on Law.com
What You Need to Know
- Plaintiffs attorney Allen Smith said he would recommend the bankruptcy plan to his 12,000 talc clients after negotiating for another $1 billion.
- Beasley Allen, which has partnered with Smith on talc cases, continues to oppose J&J's bankruptcy plan.
- The move comes about a week after J&J paused its timeline for certification of the vote on its proposed bankruptcy plan, which needs the support of 75% of talc claimants.
More than a decade after taking on Johnson & Johnson with the first trial linking baby powder to ovarian cancer, attorney Allen Smith has signed off on a proposed bankruptcy plan after negotiating for an additional $1 billion.
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