Johnson & Johnson stock is down slightly on Monday afternoon over concern of the fallout from the talcum powder lawsuits.
(Bloomberg) -- Johnson & Johnson can’t use bankruptcy to resolve more than 40,000 US cancer lawsuits over its now-withdrawn baby powder, a federal appeals court ruled. Most Read from BloombergWall Street Is Losing Out to Amateur Buyers in the Housing SlumpTrump Sues Journalist Bob Woodward for Releasing Interview RecordingsAdani Rout Hits $68 Billion as Fight With Hindenburg IntensifiesThe 'Big Shift' That's Finally Causing Rents to FallEven on $100,000-Plus, More Americans Are Living Paycheck t
News of a legal defeat drove Johnson & Johnson's (NYSE: JNJ) share price down on the first trading day of the week. The ruling from a federal appeals court not only went against the company, it produced headlines about one of the worst scandals in its history. In 2021 the healthcare giant formed a subsidiary, LTL Management, to effect such a move.