J&J bolts higher after verdict in Oklahoma opioid case
August 28, 2019
Johnson & Johnson investors exhaled in relief Tuesday, pushing up the company's shares after an Oklahoma judge imposed a $572 million verdict for the health care giant's role in the nation's opioid crisis.
During the seven week trial, state prosecutors who sought up to $17 billion described J&J as a "kingpin" in an epidemic that's killed more than 400,000 Americans since 2000.
The monetary award announced Monday, and J&J's vow to appeal, reassured investors — at least for now.
"The risk of a loss was already baked into the stock price," noted Erik Gordon, an analyst and professor at Unive...