Latest news with #ChristopherLopez
Business Wire
15-05-2025
- Business
- Business Wire
Nachawati Law Group Files New Ovarian Cancer Lawsuits Against Johnson & Johnson After Latest Bankruptcy Ploy Fails
DALLAS--(BUSINESS WIRE)--Following a third failed bankruptcy maneuver by Johnson & Johnson (NYSE: JNJ), trial lawyers with Dallas-based Nachawati Law Group have filed three new lawsuits on behalf of women who developed cancer after prolonged use of the company's talc-based products. The filings come as courts across the country prepare to restart proceedings in one of the largest mass torts in U.S. history after a federal bankruptcy judge dismissed J&J's third attempt to shield itself from litigation through a controversial bankruptcy ploy. More than 50,000 women allege they developed ovarian cancer or other gynecological cancers from long-term use of Johnson's Baby Powder and other products. 'Our recent talc ovarian cancer filings in DC and Florida are direct messages to Johnson & Johnson and the sellers of talc-based products, of our willingness and eagerness to resume the fight on behalf of our clients against the corporate malfeasances that have harmed our clients and resulted in their tragic cancer diagnoses,' said trial lawyer Charlie Stern. 'After waiting many years to resume this fight as the sham J&J bankruptcies worked their way through the courts and were eventually all dismissed, we anticipate filing more cases like these in states around the country to hold these bad actors accountable for their decades worth of nefarious activities.' J&J's proposed settlement, which was part of its third attempt to use the so-called 'Texas Two-Step' legal maneuver, was rejected by U.S. Bankruptcy Judge Christopher Lopez, who cited problems with the claimants' voting process and found the plan improperly sought to extend legal protections to non-debtor entities, shielding them from future liability without the consent of all affected plaintiffs. 'For far too long, Johnson & Johnson has used the bankruptcy system as a tool to delay and deny justice,' said firm founder Majed Nachawati. 'The courthouse doors are open again, and we are walking through them. Our clients have a constitutional right to be heard, and we intend to make sure that happens.' Nachawati Law Group represents thousands of women nationwide who developed ovarian cancer after using Johnson's Baby Powder and other talc-based products that internal company documents have shown may be contaminated with asbestos. The firm has consistently fought for accountability, both in court and in good-faith discussions to resolve claims. About Nachawati Law Group Nachawati Law Group represents individuals in mass tort litigation, businesses and governmental entities in contingent litigation and individual victims in complex personal injury litigation. For more information, visit
Yahoo
21-04-2025
- Business
- Yahoo
Company wants medical equipment back from Insight
(WKBN) — A medical equipment company filed an emergency motion to get its equipment returned from Hillside Rehabilitation and Trumbull Regional Medical Hospitals. In a court filing last week, Phillips Medical Capital LLC is asking U.S. Bankruptcy Judge Christopher Lopez to sign an order forcing the hospital to surrender medical equipment owned by Phillips. The order states that Phillips has provided various medical equipment to the facilities since 2019. The company claims the items are still accruing costs and that they cannot be sold or relocated to other facilities without this order. The order comes after the Insight facilities closed their doors in March. A class-action lawsuit has been filed in the U.S. District Court for the Northern District of Ohio against Insight Foundation after local hospitals closed and employees say they were left without paychecks. Employees are asking for 60 days' pay and ERISA benefits, as well as the repayment of money deducted from wages for fringe benefits and compensation for accrued but unpaid vacation time. The motion will be decided during a hearing on May 1. Post Road Equipment Finance filed a similar motion last week after counsel for the company could no longer meet at the Trumbull Facility due to an emergency. A hearing is scheduled for April 30 on this motion. First News will continue to keep you updated on the latest developments as Insight works to reopen Insight Trumbull in Warren and Hillside Rehabilitation in Howland. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-04-2025
- Business
- Yahoo
Why Johnson & Johnson Stock Is Sinking Today
Shares of Johnson & Johnson (NYSE: JNJ) are tumbling on Tuesday. The company's stock lost 6.3% as of 2:25 p.m. ET. The drop comes as the S&P 500 and Nasdaq Composite were down 0.4% and 0.1%, respectively. The healthcare giant was rebuffed by a judge in its latest attempt to settle its yearslong legal battle. A bankruptcy judge in Texas dismissed J&J's latest attempt to settle thousands of lawsuits that allege its baby powder and other talc-based products caused ovarian cancer. The $10 billion settlement was rejected by Judge Christopher Lopez, who ruled that the company didn't offer enough time to properly collect the votes it needed from claimants. There are tens of thousands of claimants and a majority would have needed to vote to accept the proposed settlement, which J&J claims it had. The judge said, however, that the "unreasonably short voting time" made the votes suspect and that at least half of the votes "cannot count." This marks the third time Johnson & Johnson's bankruptcy strategy has failed in court. Following the ruling, Johnson & Johnson announced it would return to the courts to fight the cases individually and "defeat merciless talc claims." The company has maintained that its products do not cause cancer and maintained ignorance of its baby powder containing cancer-causing asbestos. According to the lawsuits and investigative reporting from Reuters, the company not only knew, but actively kept the information from regulators and the public. I would stay away from the stock until more information comes to light. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $281,057!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $42,114!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $502,905!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of April 1, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy. Why Johnson & Johnson Stock Is Sinking Today was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
Johnson & Johnson Stock Falls 5% as Judge Rejects Bankruptcy Strategy
April 1 - A Federal Bankruptcy Court Judge has rejected Johnson & Johnson's (NYSE:JNJ) latest bankruptcy maneuver, sending its shares slidingNYSE:JNJ)&oq=j&gs_lcrp=EgZjaHJvbWUqDggAEEUYJxg7GIAEGIoFMg4IABBFGCcYOxiABBiKBTIGCAEQRRhAMg8IAhBFGDkYgwEYsQMYgAQyBggDEEUYOzIGCAQQRRg7MhAIBRAAGJECGLEDGIAEGIoFMg0IBhAuGJECGIAEGIoFMgYIBxBFGDzSAQgxNTEzajBqN6gCCLACAfEFgISrSidm2k4&sourceid=chrome&ie=UTF-8" target="_blank" rel="noreferrer noopener"> about 5% on Tuesday morning. Warning! GuruFocus has detected 3 Warning Signs with FQVLF. Judge Christopher Lopez ruled that the company's attempt to use bankruptcy, filed under different names like Red River, was nothing more than a delay tactic. This decision clears the way for victims, who have long linked J&J's talcum powder to ovarian cancer, to move forward with jury trials in state courts and through the bellwether process in multidistrict litigation. Attorneys for the Coalition of Counsel for Justice hailed the ruling as a win for fairness. This decision shuts down the abuse of the bankruptcy process and gives our clients a real chance to get justice, said one lead attorney. J&J, despite its strong market capitalization nearing $400 billion, has repeatedly used bankruptcy filings to sidestep liability. Opposition from the U.S. Trustee's Office, the Department of Justice, and others led to today's decision, leaving investors and claimants with a clearer path to accountability. This article first appeared on GuruFocus. Sign in to access your portfolio
The Hill
01-04-2025
- Business
- The Hill
Bankruptcy judge denies J&J settlement plan related to baby powder containing talc
A U.S. bankruptcy court judge has denied Johnson & Johnson's settlement plan related to baby powder containing talc, providing another setback in the company's efforts to resolve the matter. This is the third bankruptcy case for a J&J company as it relates to the baby powder issue. Red River Talc LLC, a J&J subsidiary, was seeking confirmation of a proposed prepackaged Chapter 11 bankruptcy plan that would have been one of the biggest mass tort settlements in history, if approved. Red River and J&J proposed to pay $9 billion to settle ovarian cancer and other gynecological cancer litigation claims based on talc-related products. But Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas, Houston division said in a court filing that J&J used a faulty voter solicitation process when dealing with personal injury claimants. J&J said in a statement that it will not pursue an appeal, and instead will return to the civil law system 'to litigate and defeat these meritless talc claims.' It will also reverse about $7 billion of a previous reserve. The company said that it has settled 95% of filed mesothelioma lawsuits, concluded all state consumer protection claims, and all talc-supplier disputes. Last year a subsidiary of J&J proposed to pay approximately $6.48 billion over 25 years as part of a settlement in the U.S. to cover allegations that its baby powder containing talc caused ovarian cancer. The lawsuits filed against J&J had alleged its talcum powder caused users to develop ovarian cancer through use for feminine hygiene, or mesothelioma, a cancer that strikes the lungs and other organs. The claims contributed to a drop in J&J's sales of baby powder, prompting the company to stop selling its talc-based products in 2020. In 2022, J&J announced plans to cease sales of the product worldwide. J&J said at the time that the reorganization plan for the subsidiary was significantly different from a previous reorganization that was announced. The company said that the plan would resolve 99.75% of all pending talc lawsuits against it and its affiliates in the U.S. At the time, J&J said that the remaining pending personal injury lawsuits that relate to mesothelioma would be addressed outside of the plan. Shares of J&J declined more than 3% before the market open on Tuesday.
