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The Supreme Court is set to hear arguments Dec. 4 over whether the agreement, part of the resolution of Purdue Pharma's bankruptcy, violates federal law. She initially opposed the deal with Purdue Pharma but has come around. The Purdue Pharma settlement would be among the largest. But in the decade before that, they were paid more than $10 billion, about half of which family members said went to pay taxes. The department and Purdue Pharma forged a plea bargain in a criminal and civil case.
Persons: Sackler, Ellen Isaacs ’, Ryan Wroblewski, , Mike Quinn, ” Lynn Wencus, Jeff, ” Wencus, It's, General Merrick Garland, Donald Trump, Joe Biden, Purdue Pharma’s, ” ___ Mulvihill Organizations: WASHINGTON, Purdue Pharma, Purdue, Sackler, Bankruptcy, Justice Department, Republican, Democrat, Congress, Boy Scouts of, Boy Scout, Catholic, Locations: Florida, Wrentham , Massachusetts, Stamford , Connecticut, , Boy Scouts of America, Cherry Hill , New Jersey
The stock of Club holding Morgan Stanley (MS) dropped to $70 from $100 before bouncing back to $80 when interest rates recently peaked. Morgan Stanley and Schwab did nothing bad or shameful, but their multiples are shadows of their former selves. At least Morgan Stanley has a nice dividend yield of 4.25%. Key, Huntington, First Horizon, Morgan Stanley and Schwab are all good franchises that are regarded as cheap. The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023.
Persons: It's, Huntington Bancshares, Stephen Steinour, Chris Gorman, Bryan Jordan, Morgan Stanley, That's, Charles Schwab, Schwab, We're, Macy's, Albert Bourla, Myers, Meyers, Eli Lilly, let's, Mills, Campbell Soup, WK Kellogg, McCormick, Neutrogena, Johnson, Edwards, Zimmer Biomet, Becton Dickenson, Baxter, BAX, Ford, Hess, Tesla, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dominion, Federal Reserve, Nordstrom, Pfizer, Bristol, Myers, Hostess Brands, Novo Nordisk, PepsiCo, Hershey, Brands, Spice, Johnson, Moderna, American Electric Power, Duke Energy, Motors, JetBlue, EOG Resources, ConocoPhillips, Exxon Mobil, Nvidia, Apple, Federal Trade Commission, CNBC, Santiago, Getty Locations: Huntington, Memphis, Tennessee, Toronto, United States, Celgene, Bristol, New York City
CNN —Working under the sun could be a major cause of skin cancer worldwide, according to new data from the World Health Organization and the International Labour Organization. The two United Nations agencies jointly announced new estimates Wednesday that link working outdoors in the sunlight to non-melanoma skin cancer. The researchers examined cases of workplace exposure to solar radiation and instances of non-melanoma skin cancer across nearly 200 countries. Workplace UV radiation exposure caused 18,960 deaths from non-melanoma skin cancer in 2019, the majority of whom were men. Previous WHO estimates have found that occupational exposure to UV radiation increases the odds of developing non-melanoma skin cancer by 60%.
Persons: It’s, , Frank Pega, , Pega, it’s, Dr, Sanjay Gupta Organizations: CNN, World Health Organization, International Labour Organization, United Nations, WHO, US Centers for Disease Control, WHO’s International Agency for Research, Cancer, Employers, CNN Health Locations: Europe, North America, Australia, Africa
Lung cancer: Causes, symptoms and treatments
  + stars: | 2023-11-02 | by ( Katia Hetter | ) edition.cnn.com   time to read: +8 min
CNN —The American Cancer Society has just updated their lung cancer screening guidelines in an effort to increase earlier detection. In women, breast cancer is more common than lung cancer, and in men, prostate cancer is more common than lung cancer. The American Cancer Society estimates that in 2023, there will be about 238,000 cases of lung cancer, and about 127,000 people will die from lung cancer. Wen: There are two main types of lung cancers, small-cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Those with first-degree relatives with lung cancer may also have a slightly higher risk of lung cancer themselves, though often this is hard to separate from the effect of second-hand smoke.
Persons: Leana Wen, Wen Organizations: CNN, American Cancer Society, George Washington University Milken Institute School of Public Health, US Centers for Disease Control, Getty, American Lung Association Locations: United States
(AP) — The U.S. Environmental Protection Agency on Monday proposed banning the cancer-causing chemical trichloroethylene, which can be found in consumer products including automobile brake cleaners, furniture care and arts and crafts spray coating. “Today, EPA is taking a major step to protect people from exposure to this cancer-causing chemical.”Massachusetts Sen. Edward Markey, who has led the effort to ban TCE, welcomed the move. Political Cartoons View All 1215 Images“With this rule, we can see a future where we will no longer be manufacturing, processing and distributing a chemical known to be deadly,” Markey said. The chemical presents an “unreasonable risk of injury to health or the environment” in 52 of 54 uses in industrial and consumer products, the EPA has found. The 2016 law required the EPA to evaluate chemicals and put in place protections against unreasonable risks.
Persons: TCE, Michal Freedhoff, Massachusetts Sen, Edward Markey, ” Markey, , Anne Anderson, Jimmy, Anne, ” Anderson, Frank, Matthew Daly Organizations: Environmental Protection Agency, of Chemical Safety, , EPA, Woburn, Andersons, Chemical, Press Locations: WOBURN, Mass, U.S, United States, Massachusetts, Woburn ., America, Woburn, Washington
Most of the school burned down, but its leaders quickly got classes up and running at Sacred Hearts Mission Church 10 miles (16 kilometers) away. Sacred Hearts and other private schools across the state took in displaced public school students, such as Cuaresma, while offering a year of free tuition. Other students bused more than 45 minutes away to public schools on the other side of Maui or opted for remote classes. Debbie Tau’s two children won’t return to their Lahaina schools because she also is worried the air isn’t safe. Patrick Williams said the first time he saw his son Kupaʻa praying at Sacred Hearts reminded him of his own childhood in Mississippi.
Persons: , Cailee Cuaresma, “ I’m, Cuaresma, Tonata Lolesio, , Lahaina , King Kamehameha III, Nāhiʻenaʻena, Tiffany Teruya, Puʻuwai, Debbie Tau’s, Patrick Williams, ’ ” Williams, Williams, Gabby Suzik, Suzik, ” Suzik, Charlene Ako, Ako, Maile Organizations: Lahainaluna High, Sacred Hearts School, Hearts Mission, Hearts, Workers, Assistance Dogs, Lahaina, Maui Preparatory Academy, Lahaina’s, Maui Prep Locations: LAHAINA, Hawaii, Maui, Lahaina, Lahaina , King, Kihei, COVID, Mississippi, Asuncion, Waiola
There are businesses still functional ... That’s a public health issue,” Koger continued, adding that there are also significant “cultural concerns” associated with the debris removal. The debris removal not only is occurring on an island in the Pacific Ocean, but Maui has no landfills certified to take hazardous waste. Cultural monitors, who are Native Hawaiians from Maui, are also accompanying the EPA and eventually the Corps during the cleanup. The Corps said plans are being worked out to move debris to a temporary site then eventually to permanent disposal sites in Maui County. Even so, Maui County Council Vice-Chair Yuki Lei Sugimura often hears from many anxious residents looking to return and build a new home.
Persons: , Cory Koger, ” Koger, Steve Calanog, King Kamehameha, ” Calanog, Micah Kamohoali’i, Wayne Tanaka, Yuki Lei Sugimura, , Michael Casey Organizations: Environmental Protection Agency, EPA, U.S . Army Corps of Engineers, West Coast ., National Park Service, Hawaii Department of Health, Corps, Information Center, Sierra Club of Hawaii, , AP Locations: Maui, Kula, Lahaina, Paradise, California, Oregon , Colorado, New Mexico, they’re, That’s, Oregon, West Coast, Hawaii, Lahaina Hongwanji, United States, Maui County, Central Maui
HONOLULU (AP) — A woman who escaped Hawaii’s Lahaina wildfire by running through a flaming field has died after spending more than seven weeks in a hospital burn unit. Laurie Allen died Friday at Straub Medical Center in Honolulu, according to a gofundme page set up for her and her husband, Perry Allen. Her heart was tired, and she was ready,” her sister-in-law, Penny Allen Hood, wrote on the website. Allen was among at least 98 people killed by the fire Aug. 8 that devastated historic Lahaina on the west coast of Maui. Allen got out of the car and fled 100 yards (91 meters) across a field of burning grass.
Persons: , Laurie Allen, Perry Allen, “ Laurie, Penny Allen Hood, Allen, Hood, Laurie —, ” Hood Organizations: Straub Medical, PT Clinic, Authorities, Nonprofit Locations: HONOLULU, Honolulu, Lahaina, Maui, U.S
TenHaken’s plan is to have the collection legally declared “surplus,” allowing the city to get the animals out of the museum. Dioramas at the Delbridge Museum. He donated the collection to the city, and it has been housed at the Great Plains Zoo since 1984. The Great Plains Zoo, which included the Delbridge Museum when it was open, attracts about 250,000 visitors a year. A Great Plains Zoo official told CNN proper display of the animals was a condition of the original donation.
Persons: they’ll, Paul TenHaken, , Becky Dewitz, ” Dewitz, ” TenHaken, Henry Brockhouse, C.J, Dewitz, , KELO, it’s, ” Paloma Strong, Strong, Brockhouse, Charles Darwin, John Edmonstone, “ Taxidermy, ” Strong, taxidermy Organizations: CNN, Delbridge, Facebook, Sioux Falls, Plains, Sioux, Plains Zoo, Angeles, Society, Indiana Historical Society Locations: Sioux Falls , South Dakota, Sioux Falls, Sioux, China, taxidermy, South Dakota, Delbridge, Guyana, Scotland
Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, , Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC
Dajabón, Dominican Republic, and Les Cayes, Haiti (CNN) When Pauline Philippe found out she was pregnant with twins, she felt a flash of happiness. "I thought about everything that could happen," Phillippe told CNN. In 2017, he unveiled a four-pronged strategy focused not only on ending impunity, but also on prioritizing victims' rights and dignity. He appointed the UN's first Victims' Rights Advocate and created a "trust fund" to support victims. Hers is the "smallest, newest and poorest" department in the UN, Connors told CNN.
Persons: Dajabón, Les, Pauline Philippe, Preval, Aristide !, Prince, Philippe's, Phillippe, Philippe, General Kofi Annan, Antonio Guterres, Jane Connors, Jokencie Jean Baptiste, Les Cayes, we're, Rosemina Joseph, Yasna Uberoi, Paula Donovan, Beatrice Lindstrom, it's, Lindstrom, Connors, decamp, Antonio Guterres hasn't, Sienna Merope, Synge, gesturing, she's, I've, Caitlin Hu, Etant Dupain, Paula Newton, CNN's Eliza Anyangwe, Eliza Mackintosh Organizations: CNN, United Nations, UN, General, Central African, moto, UN's Office, UN's, Development, Trust Fund, Democratic, Harvard Law School, Institute for Justice, Democracy, Trust, New Locations: Dominican Republic, Les Cayes, Haiti, Port, Niger, Central African Republic, Dajabón, Cap, Haiti's, Haitian, Les, Senegalese, Port Salut, Uruguayan, Democratic Republic of Congo, Liberia, New York City, Prince, South Sudan, New York, UN, Africa
The nurse practitioner on duty that day was employed by Corizon Health, Inc., one of the nation's largest private prison healthcare providers. Under federal law, a bankruptcy judge may respond to evidence of self-dealing or perjury by appointing a trustee to take control of the bankrupt company, bankruptcy experts told Insider. Just six months before the Garcia family was scheduled to have their day in court, Corizon filed for bankruptcy. "The Corizon bankruptcy is presently in a court ordered mediation, and we are seeking a global resolution for all the parties involved." Goldberger's attorney, Joseph Haspel, responded to queries with a statement saying that "Mr. Goldberger is a passive investor" in Corizon, Tehum, YesCare, Perigrove, and Perigrove 1018.
Persons: Hector Garcia, Garcia, wriggling, Adria Malcom, Corizon, Bryan Baker, , Doña Ana, Corizon ., Garcia's, Daniel Jimenez, Gina Macias, Belen Lowery, Hector Garcia , Jr, it's, Johnson, Tehum, Sen, Elizabeth Warren, I've, Isaac Lefkowitz, James Hyman, YesCare, Lefkowitz, Ian Cross, Lynn LoPucki, Tracey Grissom, William Kelly, Kelly, Hector Garcia Jr, Hector Jr, Ricky, he'd, Hector Garcia's, Ana County , New Mexico Hector Jr, Matt Coyte, Coyte, Hyman, didn't, Sara Tirschwell, Kholood, Tirschwell, Jason S, Ana County, Nick Tomecek, Christopher Atkinson, Wendy McGee, McGee, Stephanie Kiger, Anita Skipper, Atkinson, He's, Simche Steinberger, England, Steinberger's, Steinberger, Michael Flacks, Sylvia Jarrus, Cross, he's, David Gefner, Abraham Goldberger, Gefner, Perigrove, Terrence A, they'd, Oved, Goldberger, CHS Dana Anna, Flacks, Moneyman, Joel Landau, Joseph Haspel, Haspel, Andrew Levander, Landau, James Hyman's, It's, Genesis, David Harrington, Bill de Blasio, there'd, Hindenburg, David Paterson, Mark Roe, availing, Dick Durbin, Gefner . Lefkowitz, Tirschwell —, Davidson Kempner, Tim Hunter, Tirschwell's, catastrophically, Tirschwell's playbook, Jeff Sholey, Sholey, Steven Storch, Daniel's Organizations: Detention, Insider, Corizon Health, Inc, Housing, University of Missouri Health Care, Arizona Department of Corrections, Rehabilitation, Senate Banking Committee, Court, Middle, University of Florida, Alabama, futon, Health Services, New, Arizona, BlueMountain Capital Management, Flacks, Revenue, Corizon, New York Times, Tehum Care Services, CHS, YesCare Holdings, Okaloosa, Wyoming Department of Corrections, University of West, YesCare, Public, Alabama Department of Corrections, . Alabama Department of Corrections, Tehum, US, University of Missouri, LinkedIn, Flacks Group, Consulate Health Care, Justice Department, YesCare Corp, United Staffing Solutions, Charlotte, CHS Okaloosa, United, Solutions, Pharmacorr, Trade Center, Securities and Exchange Commission, Hindenburg Research, Alabama Department, Corrections, Geneva Consulting, Genesis Healthcare, Trade, Geneva, New York Stock Exchange, Pinta Capital Partners, The, Pinta Capital, New York Gov, Staffing Solutions, DG Realty, Harvard Law School, ACLU, Public Justice, Lawyers, Seven Trade, World Trade, Gefner, Southern, Southern District of Texas, The Alabama Department of Corrections, Southern Poverty Law Center, Medicare, Services, Quest Turnaround Advisors, New York City, Republican, city's Campaign Finance, CFB, Campaign Finance, Finance Locations: Ana, Las Cruces , New Mexico, facility's, Doña, Jimenez's, Las Cruces, Houston, New, Rockland County, Texas, Middle District, Tennessee, Michigan, Virginia, New York, Oregon, Idaho, New Mexico, Ana County , New Mexico, Corizon, Florida, New York City, A, York, Nashville, Missouri, Brentwood , Tennessee, Delaware, Okaloosa, Florida's panhandle, Okaloosa County, Okaloosa County , Florida, University of West Florida, YesCare, Wyoming, Shawnee County , Kansas, Bernalillo County , New Mexico, Tehum, Perigrove, Suffern, Brooklyn, America, Manhattan, Suffern , New York, Geneva, nonpayment, United States, Rivington, Alabama, Southern District, Wexford, Maine, Corizon's Texas, Mexico, Tirschwell's, YesCare Corp
Paul Brodeur, whose deeply reported articles in The New Yorker brought national attention to subjects like the toxic hazards of asbestos and the destructive impact of chlorofluorocarbons on the ozone layer, died on Aug. 2 in Hyannis, Mass. His death, in a hospital, was caused by complications of pneumonia and hip replacement surgery, said his daughter, the novelist and memoirist Adrienne Brodeur. Mr. Brodeur’s first long-form article for The New Yorker, “The Magic Mineral,” published in 1968, described at great length the history of asbestos, a heat-resistant fiber with a history of being used in thousands of products — including building and insulation materials, rugs, potholders, roofing, military helmets and gas masks — and its connection to cancer, particularly mesothelioma, among workers who had been exposed to it. “There is not an automobile, airplane, train, ship, missile or engine of any sort that does not contain asbestos in some form or other, and it has found its way into literally every building, factory, home and farm across the land,” he wrote. “And, because its minuscule fibers are eminently respirable, asbestos has also found its way into the lungs of man, where, by remaining as indestructible as it does in nature, it can wreak terrible havoc.”
Persons: Paul Brodeur, memoirist Adrienne Brodeur, Mr, Brodeur’s, Organizations: Yorker Locations: Hyannis, Mass
What’s in your tap water?” (If the drinking water is contaminated, formula mixed with it will be, too.) “But they feel heard.”Among the groups most likely to be exposed to PFAS in their drinking water are those in low-income communities or who live near military or industrial sites. determined that two kinds of PFAS — PFOS and PFOA — are “likely to be carcinogenic to humans” and proposed a goal of removing them almost entirely from public drinking water. The problem of PFAS pollution goes beyond drinking water: The Faroe Islands demonstrate as much. One afternoon this spring, Grandjean, Weihe and I sat around the kitchen table in Weihe’s clinic.
Persons: ” Elizabeth Friedman, don’t, , Friedman, he’d, Irving Selikoff, Selikoff, Grandjean, Selikoff’s, ” Grandjean, Organizations: Children’s Mercy, Children’s Mercy Kansas City, DuPont, Chermours, Toxic, European Chemicals Agency, European Union, Sinai Locations: Children’s Mercy Kansas, Missouri, U.S, United States, Paterson , N.J
A bottle of Johnson and Johnson Baby Powder is seen in a photo illustration taken in New York, February 24, 2016. LTL's bankruptcy proceedings have largely paused the 38,000 lawsuits against J&J, although one case was allowed to proceed to a $18.8 million verdict in July. But David Molton, an attorney for the official committee representing cancer claimants in LTL's bankruptcy, said that a temporary prohibition on new bankruptcy filings was appropriate, given LTL's repeated bankruptcy filings. Kaplan, who dismissed LTL's second bankruptcy, said he was not inclined to block future bankruptcy filings because circumstances could change in the next six months. But the judge said he was open to further written arguments on that point before issuing a formal decision closing LTL's second bankruptcy case next week.
Persons: Johnson, Mike Segar, J, Michael Kaplan, Greg Gordon, David Molton, Kaplan, LTL's, J's, Dietrich Knauth, Cynthia Osterman Organizations: REUTERS, Johnson, LTL Management, U.S . Department of, J, Thomson Locations: New York, Trenton , New Jersey, LTL's, Texas
Companies Johnson & Johnson FollowJuly 31 (Reuters) - Shares in Johnson & Johnson (JNJ.N) were down 4.1% on Monday and looked set for their biggest one-day percentage loss since June 2020 after a U.S. judge shot down its second attempt to resolve tens of thousands of talc-related lawsuits. Johnson & Johnson has now failed twice to resolve talc suits by offloading the related liabilities into a new company and placing it into bankruptcy. Lawsuits had alleged baby powder and other talc products sometimes contained asbestos and caused mesothelioma, ovarian cancer and other cancers. J&J has said its talc products are safe and do not contain asbestos. Flynn, who rates J&J stock 'equal-weight,' has a $187 price target on the stock compared with the median Wall Street price target of $180, according to Refinitiv which shows 23 analysts covering J&J.
Persons: Johnson, imperils, Morgan Stanley, Terence Flynn, Friday's, Flynn, J, Sinéad Carew, Deepa Babington Organizations: Johnson, Thomson Locations: U.S
U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that a J&J company's second bankruptcy, like its first, must be dismissed because the talc lawsuits did not put it in immediate "financial distress." J&J's first bankruptcy gambit began in 2021, when it offloaded its talc liabilities into a new company, LTL Management, and immediately placed that company into bankruptcy. Attorneys representing cancer victims, along with the U.S. Justice Department's bankruptcy watchdog, had called for LTL's second bankruptcy to be dismissed as an abuse of U.S. bankruptcy law. Andy Birchfield, an attorney who represents cancer victims, said the second bankruptcy was meant to keep the talc lawsuits from being heard by juries. J&J argued that the proposed bankruptcy settlement offers a fairer and faster resolution for cancer claimants than litigation in other courts.
Persons: Johnson, Mike Segar, imperiling, Michael Kaplan, J, Kaplan, J's, LTL's, LTL, U.S . Justice Department's, Andy Birchfield, Birchfield, Dietrich Knauth, Mike Spector, Jonathan Oatis, Matthew Lewis, Leslie Adler Organizations: REUTERS, Johnson, LTL Management, U.S . Justice, J, Thomson Locations: New York, U.S, Trenton , New Jersey, California
But on Tuesday, J & J was ordered to pay $18.8 million after jurors found in favor of 24-year-old Emory Hernandez Valadez who claimed in his lawsuit that he developed mesothelioma, a deadly cancer linked to asbestos, from exposure to J & J talc products. J & J has said that over 60,000 claimants support its latest $8.9 billion settlement to be paid out over 25 years. Johnson & Johnson issued an official statement following the verdict in favor of Valdez, intending to appeal. Even so, J & J got a few of price target increases on Wall Street on Friday. The higher growth pharmaceuticals and medical technology businesses are remaining as the new J & J.
Persons: Johnson, J's, Jim Cramer, Jim, J, Emory Hernandez Valadez, we're, there's, Moshe Maimon, Levy, Maimon, Michael Kaplan, Kaplan, Erik Haas, Thursday's, Haas, Jim Cramer's, Justin Sullivan Organizations: Johnson, LTL Management, J, Credit Suisse, AAA, CNBC, & ' $, & $ Locations: California, American, Levy Konigsberg, Valdez, Stifel, Kenvue, San Anselmo , California
The jury ruled in favor of Emory Hernandez Valadez, who filed suit last year in California state court in Oakland against J&J, seeking monetary damages. The six-week trial was the first over talc that New Brunswick, New Jersey-based J&J has faced in almost two years. Hernandez will not be able to collect the judgment in the foreseeable future, thanks to a bankruptcy court order freezing most litigation over J&J's talc. Jurors heard from Hernandez's mother, Anna Camacho, who said she used large amounts of J&J's baby powder on her son when he was a baby and through childhood. Tens of thousands of plaintiffs have sued, alleging that J&J's baby powder and other talc products sometimes contained asbestos and caused ovarian cancer and mesothelioma.
Persons: Johnson, Emory Hernandez Valadez, Hernandez, Erik Haas, Anna Camacho, Michael Kaplan, LTL, J, Brendan Pierson, Will Dunham, Sandra Maler Organizations: Johnson, J, Reuters, View, LTL Management, LTL's, Thomson Locations: California, Oakland, Brunswick , New Jersey, Trenton , New Jersey, New York
Johnson & Johnson was ordered to pay $18 million to a man who said he got cancer from baby powder. But these cases are on hold after LTL Management, a subsidiary of Johnson & Johnson, filed for bankruptcy in April. The six-week trial for Valdez's case was the exception, and is the first in two years involving these allegations against Johnson & Johnson. Johnson & Johnson stopped selling talc-based baby powder in 2020, offering a cornstarch-based version instead. Lawyers for Valadez and Johnson & Johnson did not immediately respond to requests for comment sent outside regular business hours.
Persons: Johnson, Anthony Hernandez Valadez's, he's, Anthony, Emory, Hernandez Valadez, Michael Kaplan, Valadez, Joe Satterley, Satterley, Erik Haas, who've, Johnson's Haas, LTL Organizations: Service, Johnson, LTL Management, Valadez Locations: Wall, Silicon, California, Johnson, New Jersey
That prompted a flurry of downgrades from analysts that in turn helped spur a steep sell-off in telecom stocks. Since the investigation’s publication, AT&T shares have tumbled roughly 14%, Verizon fell 10% and Frontier Communications slid 33%. AT&T shares on Tuesday fell to $13.45, its lowest closing price since 1993. Verizon shares fell 7.5% to $31.46 on Monday to their lowest closing level since 2010 before paring back their losses slightly on Tuesday. Lawmakers have demanded action to further investigate the network of toxic lead cables in the wake of the release.
Persons: JPMorgan Chase, Edward Jones, David Heger, paring, Akin, ” Neil Mack, Democratic Sen, Edward Markey, Jonathan Spalter, ” Markey, USTelecom Organizations: CNN —, Verizon, AT, Bell, Frontier Communications, JPMorgan, CNN, Moody’s Investors Service, Lawmakers, Democratic Locations: United States, U.S
Johnson & Johnson must pay $18.8 million to a California man who said he developed cancer from exposure to its baby powder, a jury decided on Tuesday, a setback for the company as it seeks to settle thousands of similar cases over its talc-based products in US bankruptcy court. The six-week trial was the first over talc that New Brunswick, New Jersey-based J&J has faced in almost two years. Hernandez will not be able to collect the judgment in the foreseeable future, thanks to a bankruptcy court order freezing most litigation over J&J’s talc. Jurors heard from Hernandez’s mother, Anna Camacho, who said she used large amounts of J&J’s baby powder on her son when he was a baby and through childhood. Tens of thousands of plaintiffs have sued, alleging that J&J’s baby powder and other talc products sometimes contained asbestos and caused ovarian cancer and mesothelioma.
Persons: Johnson, Emory Hernandez Valadez, Hernandez, Erik Haas, , Anna Camacho, Michael Kaplan, LTL, J Organizations: J, Reuters, View, LTL Management, LTL’s Locations: California, Oakland, Brunswick , New Jersey, Trenton , New Jersey
Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.
Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao
J & J has said that more than 60,000 claimants support its latest proposition. This is the first J & J talc trial in about two years. JNJ YTD mountain J & J year-to-date stock performance The unresolved lawsuits against J & J have, in part, weighed on the company's stock. The MedTech and Pharmaceuticals units remained and make up the new J & J. Traders wear Johnson & Johnson coats at the NYSE.
Persons: Johnson, J's, Emory Hernandez, Hernandez, Anthony, LTL, Michael Kaplan, Kaplan, , Jim Cramer, Jim, J, Jim Cramer's, Adam Jeffery Organizations: LTL Management, J, Johnson, — Chemours, DuPont, CNBC, AAA, Pharmaceuticals, Traders, NYSE, & ' $ Locations: California, North America, U.S
J&J has consistently denied that its now-discontinued talc baby powder contains asbestos or causes cancer. Satterley asked jurors to award Hernandez punitive damages about nine times greater than so-called compensatory damages, which include $3.8 million for his medical costs as well as damages for pain and suffering. The U.S. Supreme Court has found that punitive damages should generally be no more than nine times compensatory damages, and that a higher ratio can be reduced on appeal as excessive. J&J has said its talc products are safe and do not contain asbestos, which has been linked to mesothelioma. J&J said in bankruptcy court filings that the costs of its talc-related verdicts, settlements and legal fees have reached about $4.5 billion.
Persons: Johnson, Mike Segar, ” Joseph Satterley, Emory Hernandez Valadez, Satterley, Hernandez, Allison Brown, , Michael Kaplan, LTL, J Organizations: Reuters, REUTERS, Alameda County Superior Court, U.S, Supreme, LTL Management, LTL’s Locations: California, Johnson, New York, Alameda County, Trenton , New Jersey
Total: 25