00:00It's Benzinga, and here's what's on the block.
00:02Avon, once valued at $21 billion, has filed for Chapter 11 bankruptcy protection in the
00:07United States amid over 200 lawsuits linking its talc products to cancer diagnosis.
00:13The lawsuits allege that Avon's talc products were contaminated with asbestos, a known carcinogen,
00:18and caused cancer in consumers.
00:20Two jury trials resulted in Avon being ordered to pay over $70 million to plaintiffs who
00:25developed cancer after using Avon's talc products.
00:28Avon denies that its talc products cause cancer, but has removed talc from products sold in
00:32the U.S. since 2016.
00:33For all things money, visit Benzinga.com.
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