On Feb. 4, Reuters revealed in a Special Report that Johnson & Johnson privately took concrete steps starting as early as April 2021 to consider and plan a maneuver, known as a Texas two-step, to shift all its talc liability onto a newly created subsidiary that would immediately file for bankruptcy. The maneuver–J&J’s latest attempt to manage mounting allegations that asbestos lurked in its talc and caused terminal illnesses–halted all litigation against the company and could require plaintiffs to compete in bankruptcy court for compensation from a limited pool of money.

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