From CNBC:

Johnson & Johnson has tentatively settled an investigation with more than 40 states regarding claims that the company misled patients about the safety of its talc baby powder and other talc-based products. The $700 million settlement does not resolve tens of thousands of consumer lawsuits alleging that the products caused cancer. The company contends that its products are safe and had set aside about $400 million to resolve U.S. state consumer protection claims last year. J&J, which ended sales of its talc-based baby powder globally last year, has tried to resolve the consumer talc cases by offloading liabilities into a subsidiary and having that unit file for Chapter 11 bankruptcy protection. However, this attempt was rejected, and the company proposed paying $8.9 billion to talc claimants. J&J is considering a third bankruptcy attempt as it continues to address this situation.



Read more: Johnson & Johnson to settle talc baby powder probe