Bankruptcy: JOHNSON & JOHNSON

Form Type: 8-K

Filing Date: 2025-04-03

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000020040625000106

Filing Summary: On March 31, 2025, Johnson & Johnson announced that the U.S. Bankruptcy Court for the Southern District of Texas denied the request by its subsidiary, Red River Talc LLC, to confirm a proposed prepackaged bankruptcy plan. As a result of this ruling, Johnson & Johnson will reverse approximately $7 billion from amounts previously reserved for the bankruptcy resolution, indicating a significant financial adjustment for the company. This update is crucial as it reflects the ongoing challenges faced by the subsidiary and the implications for Johnson & Johnson's financial standing.