Johnson & Johnson has taken a significant step towards resolving thousands of lawsuits alleging its baby powder caused cancer. Over 75% of plaintiffs have agreed to a $6.5 billion settlement proposal, potentially leading to a Chapter 11 bankruptcy filing and a 25-year payout plan.
Bankrupt cryptocurrency exchange FTX will pay $12.7 billion in relief to its customers as part of a settlement with the Commodity Futures Trading Commission (CFTC). The settlement aims to compensate customers who lost deposits during the exchange’s collapse in late 2022.
A class-action lawsuit against Apple over audio issues on the iPhone 7 and iPhone 7 Plus has resulted in a $35 million settlement. Affected users can claim payouts ranging from $50 to $349, depending on the issue and whether they paid for repairs.
The Supreme Court has rejected a nationwide settlement between Purdue Pharma, the maker of OxyContin, and state and local governments, effectively shielding the Sackler family from lawsuits related to the opioid epidemic. This decision, which came after a 5-4 vote, has significant implications for victims and the fight against opioid addiction.
The Godrej family feud has ended with a settlement that splits the group between two branches of the founding family. Jamshyd Godrej and his sister Smita will control Godrej Enterprises Group, which includes Godrej & Boyce and its affiliates. They will also control the group’s vast land bank, including 3,400 acres of prime land in Mumbai. Adi Godrej and his brother Nadir will control Godrej Industries Group, which includes the listed companies Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec LifeSciences. Godrej Properties will continue to market real estate projects developed by Godrej & Boyce for management fees.
Johnson & Johnson (JNJ) has announced a settlement of $6.475 billion to resolve lawsuits related to ovarian cancer caused by cosmetic talc. The plan includes a three-month period for ovarian cancer claimants to vote on the settlement terms. If approved by 75% of claimants, the company will file for Chapter 11 bankruptcy to ensure the settlement’s confirmation. Johnson & Johnson has previously settled 95% of mesothelioma lawsuits related to talc exposure and allocated $11 billion to cover talc-related settlements.
Philips, a Dutch medical device manufacturer, has reached a settlement agreement worth $1.1 billion to resolve lawsuits related to its defective sleep apnea machines. The settlement covers claims filed in US courts and aims to address the uncertainty associated with the ongoing litigation. Philips maintains that the settlement does not imply admission of fault or liability, and the payments are expected to be made in 2025.
Retired geologist Dr. Andrew Beckly has made an extraordinary discovery in his back garden, uncovering a hoard of Bronze Age artifacts that has the potential to rewrite the history of the region. Originally inspired by the popular TV program Time Team, Beckly’s chance find of an arrowhead sparked a larger investigation that has yielded over 2,500 artifacts, including blades and axes. His findings challenge conventional assumptions about the distribution of Bronze Age settlements in Britain, hinting at a previously overlooked Atlantic province and continuous occupation of the area for nearly 10,000 years.
Free agent running back Dalvin Cook’s battery case with his ex-girlfriend has been settled, while a defamation case filed by Cook against her is still pending. The settlement comes after Cook’s lawyers allegedly offered his ex-girlfriend $1 million to retract her claims.
The U.S. Justice Department has settled claims with more than 100 victims of sexual assault by former sports doctor Larry Nassar, who was able to continue abusing patients due to FBI mishandling of allegations. Combined with other settlements, $1 billion has now been set aside to compensate victims. Nassar is serving decades in prison for assaulting female athletes, including Olympic gymnasts. The Justice Department has acknowledged its failure to intervene, despite FBI agents having knowledge of allegations for over a year. FBI Director Wray has apologized for the agency’s failures. Michigan State University, USA Gymnastics, and the U.S. Olympic and Paralympic Committee have also settled claims related to Nassar’s abuse.
