Commentary: J&J is a company of the 'highest integrity.' Investors overreact to asbestos report [CNBC]
Johnson & Johnson (JNJ)
Last johnson & johnson earnings: 4/14 06:31 am
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Source: CNBC
This morning Reuters published a story charging that Johnson & Johnson knew back in 1971 that its iconic baby power sometimes contained asbestos and failed to alert authorities. The story also cited a Missouri court of 22 women who said their use of baby powder caused them to develop ovarian cancer. The stock market reacted immediately by taking 10 percent off J&J' s stock, causing a drop of almost $40 billion in J&J's market capitalization. The story and subsequent stock drop seem like an overreaction to a narrow set of information based on the Missouri court verdict, fueled by a group of plaintiff attorneys, and pursuing 9,000 additional cases against the company. In a similar case in California, a jury cleared J&J of any liability a month ago. They also ignore a U.S. Food and Drug Administration statement that a study found no asbestos fibers or structures in any of the samples of cosmetic-grade raw material talc. To prove their case, plaintiffs would hav
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JNJ
Earnings
- 4/16/24 - Beat
JNJ
Sec Filings
- 4/16/24 - Form 8-K/A
- 4/16/24 - Form 8-K
- 3/27/24 - Form PX14A6G
- JNJ's page on the SEC website