J&J Opioid Ruling 2019: 13 Things to Know
The J&J opioid ruling 2019 for the case in Oklahoma has been decided.
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Here’s what to know about this ruling for Johnson & Johnson (NYSE:JNJ).
The ruling wasn’t in J&J’s favor.
However, it also wasn’t near as harsh as it could have been.
The ruling requires the company to pay $572 million to the state of Oklahoma.
This is far from the $17 billion that the state was hoping to get from the lawsuit.
It’s also worth noting that this J&J opioid ruling 2019 doesn’t mean that money will be immediately available to the state.
A lawyer for J&J says that the company is already planning to appeal the decision.
The decision in the J&J opioid ruling 2019 comes from Judge Thad Balkman.
His decision found that J&J has broken the state’s “public nuisance” law.
J&J was singled out in this lawsuit after the state reached settlement agreements with Purdue Pharma and Teva Pharmaceuticals (NYSE:TEVA).
The company isn’t out of the woods just yet. There are over 2,000 lawsuits in connection to opioids across the U.S.
There’s also an upcoming federal opioid trial that is going to take place in Cleveland, Ohio.
Oklahoma Attorney General Mike Hunter says that he believes companies selling opioids knew of the dangers of the drug before selling them.
It’s also worth noting that JNJ stock is up today following the J&J opioid ruling 2019 as investors were expecting a steeper fine.
You can follow these links to learn more about the J&J opioid ruling 2019.
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JNJ stock was up 2% as of noon Tuesday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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