US Raises Objection To Johnson & Johnson's High Cost Lawyer For Talc Bankruptcy Case: Reuters

Vandana Singh
1 min read
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In this article:

  • Johnson & Johnson (NYSE: JNJ) is ready to cough up an hourly rate of $2,465 in a bid to add Hogan Lovells partner Neal Katyal to its legal team for the talc liability case.

  • The controversial bankruptcy case tries to free JNJ from potentially billions in liabilities over its talc products claiming to cause cancer.

  • The U.S. government is objecting, citing his hourly rate as a possible new legal industry high.

  • Related: Johnson & Johnson's Baby Talc Litigation, Faces Fresh Claims It Hid Evidence: Bloomberg.

  • LTL Management LLC is the company J&J has established to funnel roughly 38,000 talc lawsuits.

  • LTL asked the judge for approval to add Katyal to its legal team earlier this month, citing his and Hogan Lovells' expertise in federal appeals.

  • Read Next: Johnson & Johnson Allowed To Move Ahead With Bankruptcy Strategy On Talc Lawsuits: WSJ.

  • In bankruptcy cases, a claimant's legal fees must be approved by the court.

  • Price Action: JNJ shares are down 1.26% at $179.12 during the market session on the last check Wednesday.

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