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Johnson & Johnson inventory falls after $29M award in child powder case


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Johnson & Johnson stock down after California jury awards $29M in baby powder cancer case

Johnson & Johnson must pay $29 million to a woman who claimed its baby powder gave her terminal cancer, a California jury ruled Wednesday.

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The Justice Department and the Securities and Exchange Commission are investigating Johnson & Johnson over concerns the company’s baby powder may have contained asbestos.
Time

OAKLAND, California — Johnson & Johnson must pay $29 million to a woman who claimed its baby powder gave her terminal cancer, a California jury ruled Wednesday.

A Superior Court jury in Oakland found the world’s largest health care company mainly liable for Teresa Leavitt’s mesothelioma. The verdict said that the baby powder was a “substantial contributing factor” in her illness.

Her suit is one of many that link cancers to asbestos in Johnson & Johnson’s talc-based products and contend that the company concealed the health risk for decades.
Requests for comment from the New Jersey-based comment were not immediately answered.

Johnson & Johnson is facing some 13,000 similar lawsuits around the country.
The company has insisted that its talc-based products are demonstrably safe but it has lost a string of court cases.

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Final yr, a Los Angeles jury awarded $25.7 million to a girl who blamed her most cancers on the powder.

A jury in Missouri final yr awarded $4.69 million to 22 ladies.

Johnson & Johnson’s shares fell about 1 p.c Thursday and closed at $138.02.

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Learn or Share this story: https://www.usatoday.com/story/cash/enterprise/2019/03/14/johnson-johnson-stock-falls-after-29-m-award-baby-powder-cancer-case/3160022002/



Author: Maxwell C.

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