Could Johnson & Johnson's Troubles With Talc Lawsuits Finally Be Coming to an End?
One of the biggest risks facing Johnson & Johnson (NYSE: JNJ) in recent years has been its exposure to talc lawsuits. The uncertainty around that issue is a key reason why shares of Johnson & Johnson have declined by 9% in the past three years, with the legal cloud weighing heavily on the business.
While the company has set aside billions of dollars to account for lawsuits that allege talc-based products led to people developing cancer, Johnson & Johnson has failed to close out the matter completely. But J&J believes it's finally close to being able to do that.
On Johnson & Johnson's earnings call earlier this month, management provided an update on the talc lawsuits. Chief Financial Officer Joseph Wolk says that claimants will be able to vote on the company's latest proposed settlement. Voting is taking place until July 26 and it will take a few weeks to tally everything up and determine the level of support for the plan.
Source Fool.com
