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MMM Jun 2023 65.000 call
- Reuters
Corporate lawsuit dodge imperiled after court rejects J&J bankruptcy tactic
Attorney Greg Gordon, a partner at the Jones Day law firm, offered an innovative solution to Johnson & Johnson and other major companies that faced mountains of lawsuits alleging their products sickened or killed people: They could use the bankruptcy system to force all plaintiffs into one settlement. Plaintiffs’ lawyers attacked the gambit, known as the “Texas two-step,” charging it amounted to a bad-faith bankruptcy filing and a fraudulent ploy to shield the parent companies’ assets. Not so, Gordon told judges overseeing bankruptcies testing the novel strategy.
- Bloomberg
J&J’s Court Loss Weakens Controversial Legal Tactic Used by Big Companies
(Bloomberg) -- A courtroom loss by Johnson & Johnson is threatening a legal maneuver developed by a handful of the most profitable companies in the world to fight lawsuits.Most Read from Bloomberg8,000 Layoffs Don’t Exactly Scream Family ValuesPutin’s War in Ukraine Pushes Ex-Soviet States Toward New AlliesSony Slashes PlayStation VR2 Headset Output After Pre-Orders DisappointMicrosoft Studio Behind Halo Faces a Reboot on Years of TurmoilNational Archives Releases Records Tied to Trump Classifie
- Zacks
BJ's Wholesale Club and 3M have been highlighted as Zacks Bull and Bear of the Day
BJ's Wholesale Club and 3M have been highlighted as Zacks Bull and Bear of the Day
