US Raises Objection To Johnson & Johnson's High Cost Lawyer For Talc Bankruptcy Case: Reuters

Johnson & Johnson JNJ is ready to cough up an hourly rate of $2,465 in a bid to add Hogan Lovells partner Neal Katyal to its legal team for the talc liability case.
The controversial bankruptcy case tries to free JNJ from potentially billions in liabilities over its talc products claiming to cause cancer.
The U.S. government is objecting, citing his hourly rate as a possible new legal industry high.
Related: Johnson & Johnson's Baby Talc Litigation, Faces Fresh Claims It Hid Evidence: Bloomberg.
LTL Management LLC is the company J&J has established to funnel roughly 38,000 talc lawsuits.
LTL asked the judge for approval to add Katyal to its legal team earlier this month, citing his and Hogan Lovells' expertise in federal appeals.
Read Next: Johnson & Johnson Allowed To Move Ahead With Bankruptcy Strategy On Talc Lawsuits: WSJ.
In bankruptcy cases, a claimant's legal fees must be approved by the court.
Price Action: JNJ shares are down 1.26% at $179.12 during the market session on the last check Wednesday.