- L’Oréal SA LRLCY and other companies that make hair relaxer products have faced 57 lawsuits alleging the products cause cancer and other health problems.
- Pursuant to an order of the Judicial Panel on Multidistrict Litigation, the lawsuits will be consolidated in federal court in Chicago.
- The lawsuits concern products that use chemicals to permanently straighten textured hair, court documents show.
- The lawsuits allege that the companies knew their products contained hazardous chemicals but marketed and sold them.
- The cases name the US subsidiary of L’Oreal SA and subsidiaries of India-based companies Godrej SON Holdings Inc And Dabur International Ltd, Reuters reported.
- In a statement posted online after the first lawsuits were filed, L’Oreal said it “is confident in the safety of our products and believes that the lawsuits recently filed against us have no legal merit.”
- The lawsuits follow the release of a study by the National Institutes of Health in October that found women who used the products multiple times a year were more than twice as likely to develop cervical cancer.
- Price promotion: LRLCY shares are down 2.08% to $80.36 on Tuesday’s most recent check.
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