Johnson & Johnson

The talc litigation rests on a documented record: Reuters' December 2018 investigation of documents produced in discovery showed that from at least 1971 to the early 2000s, J&J's raw talc and finished powders sometimes tested positive for asbestos — and that the company did not disclose those results to the FDA or the public. J&J's single worst litigation-related trading day (-10%, roughly $35 billion) came from that report, not from any verdict.

The Ingham verdict (July 2018) awarded $4.69 billion to 22 plaintiffs, later reduced to $2.1 billion on appeal — a reminder that headline verdicts routinely shrink. J&J then attempted the 'Texas two-step' three times, spinning talc liabilities into subsidiaries that filed bankruptcy; courts dismissed all three, most recently Red River Talc in March 2025.

As of July 1, 2026, the talc MDL held 68,435 pending cases — the largest active MDL in the country. Insurers have contested their share: J&J's carriers formally accused it of trying to 'saddle its insurers' with the liability, while insurance paid $280 million of the $505 million talc-supplier settlement with Imerys and Cyprus Mines. All items here are from court records and verified reporting; allegations remain allegations until adjudicated.