Legal Setback Weighing on Johnson & Johnson

28 days ago

Nora Melinda

"Johnson and Johnson, ticker J&J, it's down for a different reason. We are seeing shares falling as much as 2%. This is after the company was ordered to pay about 1.56 billion to a Maryland woman. Essentially, she blamed the company's talkbased baby powder for causing asbestous linked cancer. So jurors did find uh this in um for the woman. They did see two units of its staff and the spin-off Kin View of J&J. They were liable for failing to warn this woman about the fact that there was uh the baby powder was tainted with asbestous. So we are seeing shares that are down reacting just a touch down about 9/10en of a percent right now as we speak."

The commentary on Johnson & Johnson (J&J) centers on a significant legal judgment where the company was ordered to pay approximately 1.56 billion dollars, resulting in a modest decline in share price. The legal setback over its baby powder product and related liabilities is having an immediate, negative impact on the stock.