A federal judge has dismissed Johnson & Johnson’s latest effort to use bankruptcy proceedings to establish a multibillion-dollar trust fund for compensating individuals who claim they developed cancer from using talc-based products, such as baby powder. US Bankruptcy Judge Christopher Lopez ruled against the bankruptcy filing of a small J&J subsidiary, Red River Talc, following a two-week trial in Houston. The judge determined that the voting process involving cancer victims on the proposal was flawed.
— new from Bloomberg.com
