Legal, Research

Johnson & Johnson (JNJ): Texas Two-Step Takes a Spill

Nicholas Rodelli, JD, Head of Legal Research
Michael Gordon, JD, Legal Edge Analyst
31 January 2023

Summary

U.S. Court of Appeals for the Third Circuit issued a unanimous panel decision in In re LTL Management, LLC, talc claimants’ appeal of the February 2022 opinions of the bankruptcy court in New Jersey which had allowed the product of a “Texas Two-Step” divisive merger to continue in bankruptcy and had blocked all talc lawsuits against Johnson & Johnson (JNJ) and its subsidiaries.


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