NEW YORK--(BUSINESS WIRE)--The following is a statement from the Ad Hoc Group of Counsel representing individuals harmed by baby powder products:
“Our coalition proudly supports the fair and timely resolution of this matter through the bankruptcy process. The $6.48 billion negotiated settlement will be the quickest and fairest path to compensation for tens of thousands of people harmed by their usage of Johnson & Johnson’s talcum powder products.
“The firms leading the opposition to the bankruptcy have had ample opportunity over the past decade to garner consensus, without success. We believe that their opposition to the groundbreaking settlement is motivated by a desire to enrich themselves at the expense of victims.
“It is well past time for the other side to put aside the mudslinging and intimidation tactics and instead focus on obtaining justice for victims who are succumbing to ovarian and other cancers each year this matter drags on. Resolution of these cancer cases through Chapter 11 is what it will take to finally provide compensation to the victims. The process promotes centralization and efficiency, leading to predictable outcomes backed by historical precedent.
“We believe the Chapter 11 process is the only path to swift, sufficient and equitable compensation for the talc victims. It is also a highly efficient and democratic process that provides victims a voice through the voting process, which is denied in multidistrict litigation. We have a great deal of respect for our clients and trust them to make the right decision that will be in their own best interests.”