3 ms·

Given J&J has yet to actually incur these damages, declaring bankruptcy seems a bit over the top.

• littlestymaar 3y ago
  When you factor in the fact that this company has (knowingly) killed multiple times more people than Osama Bin Laden, maybe it's not “over the top”…
  • Panzer04 3y ago
    In what way have they done that? I'm sure there.must be a massive lawsuit about it.
    • littlestymaar 3y ago
      Didn't you even skim the article? There's a short summary at the beginning: > J&J is facing more than 38,000 lawsuits alleging that the company's talc products, including its Baby Powder, were contaminated by asbestos and caused cancers including ovarian cancer and mesothelioma
      • Panzer04 3y ago
        Right, but these judgements have yet to be levied. The problem they are solving with this maneuver is ensuring a common/fair result for the people suing, without the "unreasonable" step of declaring bankruptcy on the company as a whole without actual obligations. As other comments have mentioned, Matt Levine has an excellent article describing the logic behind their actions.