Johnson & Johnson's First Talc-Related Trial In Two Years: Court Orders To Pay Around $19M
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) has been ordered to pay $18.8 million to a man who allegedly developed cancer due to exposure to the company's baby powder. This is the first talc-related trial that JNJ has faced in nearly two years. Despite J&J's subsidiary LTL Management filing for bankruptcy and proposing to pay $8.9 billion to settle over 38,000 lawsuits, this trial was allowed to proceed. JNJ plans to appeal the verdict.
July 19, 2023 | 11:50 am
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Johnson & Johnson has been ordered to pay $18.8 million in a talc-related trial. The company plans to appeal the verdict. This could potentially impact the company's financials and reputation.
The verdict of the trial could potentially lead to a financial burden for JNJ, especially if more such cases are allowed to proceed. This could also harm the company's reputation, leading to a potential decrease in stock price.
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