NJ Court Won't Stop J&J's 'Texas Two-Step' In Talc Suits

By Bill Wichert (September 21, 2021, 5:26 PM EDT) -- A New Jersey state judge refused to preemptively block Johnson & Johnson from engaging in a bankruptcy maneuver, the so-called Texas Two-Step, that cancer patients say would unlawfully shield company assets from claims its talcum powder products caused their illness.

In rejecting their application for a temporary restraining order and preliminary injunction against the pharmaceutical giant, Superior Court Judge John C. Porto on Monday said that plaintiffs Brandi Carl and Diana Balderrama want him "to assume the defendants intend to conduct a fraudulent transaction" but that he "cannot make that leap."

"From the court's perspective, and without knowing the terms of...

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