Johnson & Johnson’s “bankruptcy”

Today, Explained

Vox

News, Daily News, Politics

4.3 • 10.3K Ratings

🗓️ 22 September 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Thousands of people say Johnson & Johnson’s baby powder gave them cancer. They’re suing — but the consumer giant is using a bankruptcy strategy called the “Texas two-step” to limit its liability. This episode was produced by Avishay Artsy, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Paul Robert Mounsey, and hosted by Noel King. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Attention Talcompatter users.
0:03.2	If you are a loved one, use Talcompatter products like Johnson's Baby Powder or Shower to
0:07.9	Shower Powder and were diagnosed with ovarian cancer.
0:11.7	You may be entitled to substantial financial compensation.
0:17.1	For years, lawsuits against Johnson and Johnson have piled up.
0:21.0	For years, the company has denied its baby powder caused cancer.
0:25.2	And eventually, it found a way to shunt off its legal liability.
0:29.7	This week, a panel of judges in Affiliate Peel's Court pressed J&J over the way it went
0:34.5	about that.
0:35.5	Facing tens of thousands of lawsuits, the company spun off a new unit and siloed the suits
0:40.8	into it.
0:42.0	That unit then immediately filed for bankruptcy.
0:44.8	Coming up on today, explained what this might mean for people seeking justice.
0:49.3	I hope no woman has to go through this.
0:52.6	It really changes your life, your family.
0:55.8	It should not happen to anybody.
1:01.5	Support for today's show comes from Slack.
1:03.8	A digital HQ in Slack brings your teams, partners and tools together in one space.
1:09.6	Slack helps companies stay flexible, accelerate projects and keep teams aligned.
1:14.6	So work just works.
1:16.6	How exactly?
1:18.4	Organised projects in channels work across time zones with huddles and clips and even
	...

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