J&J proposes at least $5.5 billion deal to resolve ovarian talc litigation

Johnson & Johnson proposed a comprehensive resolution of ovarian talc litigation covering about 76,000 lawsuits, with a commitment of at least $5.5 billion paid per claim. The deal depends on lead plaintiff firms representing at least 95% of claims joining. Shares rose 2.5% intraday on July 28, and RBC said the amount was materially below what the company had previously been expected to pay.

• At least $5.5 billion committed to resolve claims
• About 76,000 lawsuits covered
• Requires lead plaintiff firms representing at least 95% of claims to participate
• Shares up 2.5% at 10:35 a.m. ET on July 28