Why Johnson & Johnson Stock Is Sinking Today
Shares of Johnson Johnson (NYSE: JNJ) are tumbling on Tuesday. The company's stock lost 6.3% as of 2:25 p.m. ET. The drop comes as the S 500 and Nasdaq Composite were down 0.4% and 0.1%, respectively.
The healthcare giant was rebuffed by a judge in its latest attempt to settle its yearslong legal battle.
A bankruptcy judge in Texas dismissed J's latest attempt to settle thousands of lawsuits that allege its baby powder and other talc-based products caused ovarian cancer. The $10 billion settlement was rejected by Judge Christopher Lopez, who ruled that the company didn't offer enough time to properly collect the votes it needed from claimants.
Source Fool.com
