J&J tumbles amid reports the DOJ launched a criminal investigation

J&J tumbles amid reports the DOJ launched a criminal investigation

into whether it lied about its baby powder’s cancer risks (JNJ)

Shares of Johnson & Johnson fell as much as 6% Friday amid reports the US Justice Department is pursuing a criminal investigation into the company.

The DOJ is looking into whether J&J lied about the possible cancer risks of its talcum powder, according to the Bloomberg report.

Lawsuits alleging the products are responsible for cancer have cited internal memos dated as far back as the 1960s that warn asbestos could be found in J&J talc products.

Nearly a dozen court cases have concluded the company knew some of their Baby Powder products had at least trace amounts of asbestos and didn’t warn consumers of the risk. Markets Insider

https://markets.businessinsider.com/news/stocks/johnson-and-johnson-stock-price-reaction-reported-doj-investigation-baby-powder-2019-7-1028349902

US Criminal Probe into J&J Baby Powder Asbestos Denial; JNJ Falls – Bloomberg

https://www.bloomberg.com/news/articles/2019-07-12/j-j-denials-of-asbestos-in-baby-powder-spur-u-s-criminal-probe