Johnson & Johnson’s Desperate Bid to Escape Accountability
Johnson & Johnson is facing its third court hearing in a desperate attempt to push through a multi-billion-dollar settlement related to claims that its baby powder caused ovarian cancer. The company’s plan to resolve the litigation through a subsidiary’s bankruptcy has been rejected twice before, but it’s clear that J&J is willing to try anything to avoid taking responsibility for its actions.
The proposed settlement would provide a significant recovery for victims, but opponents argue that it would result in lower payments than they could secure at trial. This raises serious questions about the company’s commitment to justice and its willingness to prioritize profits over people. With over 80% of current claimants backing the proposal, one would think that J&J has the support it needs to move forward. However, the devil is in the details, and it’s clear that the company is trying to manipulate the system to its advantage.
The Real Cost of J&J’s Actions
Johnson & Johnson’s stock price has been impacted by this ongoing litigation, with shares experiencing a decline in value. This is a clear indication that the company’s actions have consequences, and that investors are not willing to tolerate its reckless behavior. The company is also offering an exclusive dividend of $1.24 per share, which is being traded separately from the stock price. This move is nothing more than a desperate attempt to placate investors and distract from the company’s true problems.
The Bottom Line
The proposed settlement is a clear attempt by Johnson & J to avoid accountability for its actions. The company’s willingness to try and manipulate the system to its advantage is a slap in the face to the victims of its alleged wrongdoing. It’s time for J&J to take responsibility for its actions and provide fair compensation to those who have been harmed. Anything less is unacceptable.
Key Facts
- Johnson & Johnson is facing its third court hearing to push through a multi-billion-dollar settlement related to claims that its baby powder caused ovarian cancer.
- The proposed settlement would provide a significant recovery for victims, but opponents argue it would result in lower payments than they could secure at trial.
- Over 80% of current claimants back the proposal, but opponents argue that the company is trying to manipulate the system to its advantage.
- Johnson & Johnson’s stock price has been impacted by this ongoing litigation, with shares experiencing a decline in value.
- The company is offering an exclusive dividend of $1.24 per share, which is being traded separately from the stock price.