New York judge cuts jury award against J&J in talc case to $120 million

Judge cuts jury award in J&J talc case

Johnson & Johnson has persuaded a New York judge to slash by around two-thirds the $325 million jury prize for a woman who attributed her asbestos-related cancer to the use of baby powder ‘business.

Manhattan Judge Gerald Lebovits on Thursday refused to award the full 2019 award to Donna Olson and her family for claiming the company’s talc-based powders caused her mesothelioma, after discovering it existed. evidence to support the jury’s verdict. He reduced the price to $120 million.

Judge reduced Olson’s punitive damages award to $105 million from $300 million and actual damages awarded by jurors to $15 million from $25 million, court documents show .

J&J will appeal the entire verdict, spokesperson Kim Montagnino said.

J&J faces nearly 22,000 claims that its powders have caused ovarian cancer and mesothelioma, a rare cancer linked to asbestos exposure, according to a regulatory filing last month. The company denies that its products cause life-threatening illnesses or that its talc has been contaminated with asbestos.

Earlier this year, J&J pulled its talc-based baby powder from store shelves in the United States and Canada in what it called a “trade decision.” J&J has won lawsuits over talc claims and had others thrown out.

In June, a Missouri appeals court slashed a $4.7 billion award to 20 women who also blamed baby powder for their cancers to $2.1 billion, but refused to completely dismiss the claim. reward.

Trade Group: Airlines Need $80 Billion

Airlines will need $70 billion to $80 billion in aid to survive the coronavirus crisis, another half of the amount already received from governments, their global industry body has warned.

“We are extremely grateful to them for injecting $160 billion into the sector,” said Alexandre de Juniac, director general of the International Air Transport Association (IATA), at the Paris Air Forum on Friday. organized by the newspaper La Tribune.

“For the coming months, the needs of the industry are estimated at $70 [billion to] $80 billion in additional aid,” De Juniac said. “Otherwise, some airlines will not survive.”

While vaccine breakthroughs offer hope, a return to mass travel remains months away, airlines say. Some will struggle to weather the Northern Hemisphere winter, when profits are slim even in normal times.

Meanwhile, a fresh spike in coronavirus infections and travel restrictions have further clouded the financial outlook for a sector that IATA predicts will lose $87 billion this year.

french government On Friday, supermarket chains and e-commerce platforms like Amazon agreed to postpone “Black Friday” promotions, responding to concerns that stores shuttered by the country’s coronavirus lockdown are bleeding out and could be hit further s ‘they miss the craziness of consumers. As part of the agreement negotiated by the Minister of the Economy, Bruno Le Maire, “Black Friday” in France will be postponed by one week to December 4. (Amazon CEO Jeff Bezos owns The Washington Post.)

Nike announced on Friday that it would increase its quarterly dividend by 12%, or 3 cents per share, underscoring the financial strength of the world’s largest sportswear maker amid the pandemic. In September, Nike said it expects sales in the second half of its fiscal year ending May 2021 to be “significantly up” as it rebounds from a slump earlier this year.

NetJets, a private jet company owned by Warren Buffett’s Berkshire Hathaway, expects plane deliveries to rise by a third next year as wealthy travelers seek to avoid commercial flights due to the pandemic are fueling a recovery in demand. The world’s largest private jet operator, which previously halved its delivery target for this year to 30, said it now expects to take delivery of 40 new planes in 2021.

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