L’Oreal Explores Unloading Chemical-Related Liabilities, WSJ Reports
L’Oreal has engaged restructuring advisers to explore options for rising US legal liabilities linked to its use of talc and other chemical ingredients in some of its cosmetic products, the Wall Street Journal reported on Monday. The cosmetics maker’s US …
L'Oréal is reportedly considering selling off its chemical-related liabilities, according to a report by the Wall Street Journal. The French cosmetics giant has enlisted restructuring advisers to explore potential solutions for mounting US legal liabilities associated with the use of talc and other chemical ingredients in some of its cosmetic products.
The Journal cited sources familiar with the matter, stating that L'Oréal's US unit is collaborating with restructuring counsel Weil Gotshal & Manges and investment bank Ducera Partners to tackle lawsuits from individuals who claim the talc products caused health issues.
The cosmetics manufacturer is also entangled in thousands of lawsuits alleging that its hair relaxer products could cause cancer in women. In September, Arizona filed a lawsuit against L'Oréal and its US subsidiary, accusing the company of concealing evidence that the products could cause cancer. L'Oréal USA has maintained that it is confident in the safety of its products and asserts that the alleged claims lack legal or scientific validity.
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