Johnson & Johnson offices in New Brunswick, New Jersey. Credit: Askar/Adobe StockU.S. Trustee, Insurers, Object to J&J's $10B Talc Bankruptcy Plan
Objections to Johnson & Johnson's talc bankruptcy plan cite the U.S. Supreme Court's decision last year invalidating nonconsensual releases in Purdue Pharma's $6 billion opioid settlement.
January 28, 2025 at 04:38 PM
5 minute read
What You Need to Know
- The objections come ahead of a key Feb. 18 hearing on whether to confirm the Chapter 11 plan.
- Johnson & Johnson’s Erik Haas disputed the Purdue decision's impact, adding that it actually validated the talc plan.
- In its objection, the U.S. Trustee said it also was investigating 'unauthorized post-petition solicitation of the plan,' referencing a Dec. 19 email from attorney Jim Murdica to plaintiffs' firms.
The U.S. Trustee and several insurance firms objected to confirmation of Johnson & Johnson’s proposed $10 billion bankruptcy plan, citing the U.S. Supreme Court’s 2024 ruling that dismantled Purdue Pharma’s opioid settlement.
The objections, filed ahead of a key Feb. 18 hearing on whether to confirm the Chapter 11 plan, cite the Supreme Court’s decision in Harrington v. Purdue Pharma. In that June 27 ruling, the high court, in a 5-4 ruling, invalidated nonconsensual releases in the $6 billion bankruptcy plan granted to Purdue’s founders, the Sacklers.
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