J&J subsidiary Red River Talc files Chapter 11 for cosmetic talc settlement, increasing contribution by $1.75B to ~$8B

JOHNSON & JOHNSON

Red River Talc LLC filed voluntary prepackaged Chapter 11 in Southern District of Texas.
Approximately 83% of current ovarian cancer claimants support the proposed bankruptcy plan.
Settlement contribution increased by $1.75 billion to a present value of approximately $8 billion.
Aims to resolve all current and future U.S. cosmetic talc claims against Johnson & Johnson.

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