CHARLOTTE, NC (Businesshala) – A US bankruptcy judge on Wednesday imposed a 60-day moratorium on thousands of legal claims against Johnson & Johnson alleging that its talc-based products cause cancer.
US Bankruptcy Judge Craig Whitley ordered a stay at a hearing in Charlotte, North Carolina.
They also decided to move the talc cases to a federal court in New Jersey, where Jammu and Kashmir is located and where its talc products are under nationwide litigation.
Whitley made the ruling in response to a request from LTL Management LLC, a J&J entity created by the parent company to keep its talaq liabilities, to stop talaq cases following a Chapter 11 reorganization. The parents did not file for bankruptcy.
Shares of J&J were up nearly 1% after the verdict.
The New Brunswick, New Jersey-based company has said its talc products are safe.