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.
L’Oréal
L’Oreal’s US unit is working with restructuring counsel Weil Gotshal & Manges and investment bank Ducera Partners to address lawsuits from individuals alleging the talc products caused illness, the Journal said, citing people familiar with the matter.
L’Oreal, Weil Gotshal & Manges and Ducera did not immediately respond to requests for comment.
The cosmetics maker is also facing thousands of lawsuits that allege its hair relaxer products could cause cancer in women.
Arizona sued L’Oreal and its US subsidiary in September, alleging the cosmetics company hid evidence that the products could cause cancer.
L’Oreal USA has previously said the company is confident in the safety of its products and believes those claims are without legal or scientific merit.
