Johnson & Johnson’s Stock Falls After Court Dismisses $10 Billion Talc Settlement

Johnson & Johnson (JNJ) experienced a significant drop in its stock price following a legal setback over its talcum powder products. A U.S. bankruptcy judge rejected the company’s proposed $10 billion settlement aimed at resolving numerous lawsuits alleging J&J’s talc products are linked to ovarian cancer. This dismissal marks the third failed attempt by J&J to resolve these claims through bankruptcy court. As a result, the company will now tackle these claims within the traditional legal system, declining to appeal this latest ruling.