(Reuters) -Johnson & Johnson shares fell more than 3% on Tuesday after a U.S. bankruptcy judge rejected its $10 billion proposal to end tens of thousands of lawsuits alleging that ...

A U.S. bankruptcy court judge has denied Johnson & Johnson’s settlement plan related to baby powder containing talc, providing another setback in the company’s efforts to resolve the matter.

Johnson & Johnson shares fell the most in five years after the company’s plan to settle thousands of talc-related lawsuits through bankruptcy was shot down in court.