(Reuters) -A U.S. judge ruled on Friday that a Johnson & Johnson subsidiary can remain in bankruptcy, preventing plaintiffs from pursuing 38,000 lawsuits against the company alleging its baby powder and other talc products cause cancer.
J&J is attempting to resolve those lawsuits by putting a recently formed subsidiary, LTL Management, into bankruptcy, which the cancer plaintiffs argued was an abuse of the Chapter 11 system.
LTL attorneys argued that bankruptcy was the only practical way to resolve the sheer volume of lawsuits that have been filed against J&J.
(Reporting by Tom Hals in Wilmington, Delaware; Editing by Chizu Nomiyama)
