Dan Stolz Interviewed In NJBIZ's Intimate Conversations: Why The J&J Bankruptcy Case Is A Warning For Other Companies
October 10, 2023
Bankruptcy cases don’t often make headlines. Settlements are reached, companies pay fines, and everyone goes about their business. Other elements, including the massive toll these cases can take, are often overlooked or ignored completely.
But that’s not always the case.
To avoid future lawsuits, Johnson & Johnson created a subsidiary company in 2021 called LTL Management to shield itself from any litigation. LTL was to pay out billions to resolve the claims against it. However, Judge Michael Kaplan recently ruled in favor of the claimants, not Johnson & Johnson. This allows for more suits to be filed, and keeps the company on the hook for any more compensation claims.
Genova Burns’ Dan Stolz was a key member fighting for the claimants at Johnson & Johnson. Working along with Genova Burns lawyers Gregory Kinoian and Donald Clark, these three acted as the local counsel for the talc claimants involved in the case. An expert in the field with over 40 years of experience, Stolz recalled the case as being indicative of “the extraordinary universe” of bankruptcy.
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