Keller Postman Supports Resolution of Talcum Powder Litigation

Chicago, IL / ACCESSWIRE / June 4, 2024 / Today, Keller Postman announced its support for the resolution of the talcum powder litigation against Johnson & Johnson (J&J) through a pre-packaged bankruptcy plan. In May 2024, J&J's subsidiary, LLT Management LLC, proposed a reorganization plan to address its talc-related liabilities.

The plan includes funding a trust with over $5.4 billion in the first three years and more than $8 billion over 25 years, with a net present value of $6.475 billion. Keller Postman has reviewed the plan and intends to support it, viewing it as a means to secure timely payments for eligible clients affected by J&J's talcum powder.

This litigation has been ongoing for over a decade, with 17 trials leading to only one plaintiff victory. The proposed plan allocates significant resources for compensation, with an upfront $2 billion into the trust. Historical settlements for talc cases have ranged from $50,000 to $80,000, while the plan estimates that similar cases could see average recoveries between $50,000 and $200,000.

Keller Postman will advise eligible clients, including those represented by other firms opposing the plan, to vote in favor of the reorganization plan. The firm plans to communicate this recommendation to clients eligible for compensation.