Johnson & Johnson Sets Aside BILLIONS As Cancer Lawsuits Continue To Escalate

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Published on 17 Apr 2021, 15:00
Via America’s Lawyer: Johnson & Johnson reserves almost 4 billion dollars to settle tens of thousands of lawsuits over its cancer-causing baby powder. Attorney Stephen Luongo joins Mike Papantonio to update us on litigation filed by customers who were put at risk of mesothelioma after being exposed to asbestos-laden products.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Johnson and Johnson has reserved almost $4 billion to settle tens of thousands of lawsuits over cancer causing baby powder. Attorney Steve Luongo joins me to talk about this. Steve, your reaction is the same as mine, $4 billion is not enough. People are dropping like flies from ovarian cancer that this company knew about. They've been punished so many times in lawsuits. It's almost like they're running into the wall, bashing their head up against the wall, thinking something's going to change. Nothing's going to change. These facts don't change. This is a company that screwed up major and they know it.
Exactly. And talking about the facts, they've known since the seventies, internal documents have shown that the presence of asbestos was in their talcum powder. They didn't warn the FDA. They didn't warn their consumers. And here we are, several decades later, women are developing mesothelioma, but primarily that ovarian cancer, which these lawsuits are coming down on and coming down on Johnson and Johnson hard with major verdicts.
Okay. The significance of mesothelioma is that asbestos is the cause of, of, of mesothelioma. It's a, what they call a scar based cancer. I've tried a lot of these cases. This is the same analysis here. This is a scar based injury that is effecting, effecting women, the ovaries of women. It's, it's causing scarring in there and resulting in cancer. Now, they've known they had asbestos in their talc for a long time, true?
Absolutely. Yes, sir. So they've known, like I said, the internal documents have shown since the seventies that the, the specialists was present in their documents or in their products rather. As well as studies that have been going on since the seventies, I think the first study came out in 1971 that showed a possible link between talcum powder and ovarian cancer. That study was well known, well published. Documents throughout the eighties and nineties, as well as surveys and studies throughout that time period, showed that they were well aware of the risk of ovarian cancer, as well as the presence of asbestos.
You did a checklist for me saying the number of times, hit for $100 million, okay. Hit for $30 million. Hit for $4.6 billion. Hit for $25 million. Hit for $37 million. Hit for $417 million. Hit for $110 million. The company, here's what's happening, I promise you. The CEO does not want to give it up because it's going to happen on his or her watch. This is how it happened. You don't want to make it, you don't want to pay out the big money on your watch. You want to wait till the next CEO comes along and pay it off. There's a real ugly story to this side, you know what it is? It is that Wall Street is controlling lawyers who take money from Wall Street. They get loans from organizations like Fortress and you know, the big, the big hedge funds. They're taking money from those people to where they can't settle the cases. So it's both sides, it's Johnson and Johnson and some of these lawyers who are, who are moneyed up from Wall Street, which should never happen with a plaintiff's lawyer. What's your take on that?
Well, the dam is going to break. We know that last year Johnson and Johnson made some significant moves. We talked about the a hundred million that they set aside, the deal with women and a thousand lawsuits approximately, where asbestos was found there.

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