February 18, 2025 - Statement attributable To Erik Haas, Worldwide Vice President of Litigation, Johnson & Johnson:
“We look forward to presenting the overwhelming support for the filed Bankruptcy Plan, and we are confident the Plan satisfies all the requirements of the Bankruptcy Code.
The so-called “Coalition” still objecting to the Plan is in fact just Beasley Allen and dwindling number of firms, and these firms have not presented any meaningful alternative to get their
clients a better recovery on any sort of realistic timeline. Our Plan affords claimants a far better recovery than they stand to recover at trial, particularly if represented by Beasley Allen, who has never collected a dime for its clients.
The Plan constitutes one of the largest settlements ever reached in a mass tort bankruptcy case and far exceeds the 75% approval threshold required by the U.S. Bankruptcy Code.”