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J&J (JNJ) Faces $8M Verdict Over Talc Case; Stock Still Gains 4.66% YTD
Johnson & Johnson (NYSE:JNJ) is one of the 10 undervalued blue chip stocks analysts recommend for smart investing. On June 18, Dean Omar Branham Shirley, LLP, a Dallas, Texas-based law firm, announced an $8 million verdict against Johnson & Johnson in Suffolk County, Massachusetts. The verdict was awarded to Janice Paluzzi, an 84-year-old Massachusetts woman who developed mesothelioma, a rare and aggressive cancer linked to asbestos exposure.
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According to the jury, the plaintiff's illness arose from her decades-long use of Johnson & Johnson's talcum powder products. The jury found that J&J's talcum powder products contained asbestos and that a design defect in these products substantially contributed to Ms. Paluzzi's mesothelioma. They also found Johnson & Johnson negligent in the design of the powder and that this negligence substantially contributed to her illness. As a remedy, the jury awarded Ms. Paluzzi $8 million: $5 million for past pain and suffering and $3 million for future pain and suffering.
Despite the unfavorable ruling, Johnson & Johnson's stock is up 4.66% year to date as of June 19.
Johnson & Johnson (NYSE:JNJ) is a global healthcare company. It develops and sells pharmaceuticals, medical devices, and consumer health products. It operates through two major divisions, pharmaceutical and MedTech. Some of its key pharmaceutical products include Darzalex, Stelara, and Tremfya.
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