04:19 AM EDT, 08/26/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) is currently negotiating with lawyers who opposed its $6.48 billion settlement offer related to talc products that allegedly caused cancer, Reuters reported late Friday.

The company plans to finalize the settlement through a subsidiary's bankruptcy, a strategy previously rejected twice by federal courts, the report said.

Although most claimants support the deal, according to Reuters, J&J has paused the vote count to gather additional votes from plaintiffs who oppose it.

"We have agreed to a short extension of the certification timeline," said Erik Haas, J&J's worldwide vice president of litigation, in a statement to Reuters. "This will allow these plaintiffs' attorneys time to speak to their claimants and consider supporting the plan."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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