J&J Opioid Ruling 2019: 13 Things to Know

JNJ plans to appeal the ruling

The J&J opioid ruling 2019 for the case in Oklahoma has been decided.

J&J Opioid Ruling 2019: 13 Things to Know
Source: Sundry Photography / Shutterstock.com

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.

JNJ stock was up 2% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/08/jj-opioid-ruling-2019-13-things-to-know/.

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