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JOHNSON & JOHNSON 8-K Report, Corporate Update (Aug 26, 2019)

Filed August 26, 2019For Securities:JNJ

Summary

Johnson & Johnson (JNJ) announced on August 26, 2019, that it intends to appeal a $572 million civil judgment awarded to the State of Oklahoma in a lawsuit against opioid manufacturers. The company, along with its Janssen Pharmaceutical Companies, is committed to vigorously defending itself against this ruling. This appeal signifies the company's stance against the judgment, which was entered in Cleveland County District Court. Investors should note that while JNJ plans to contest this decision, the outcome and financial impact of this litigation, along with other potential legal challenges, remain uncertain due to the inherent complexities of legal proceedings. The company has cautioned that actual results could differ materially from forward-looking statements due to various risks and uncertainties.

Key Highlights

  • 1Johnson & Johnson to appeal $572 million civil judgment related to opioid lawsuit in Oklahoma.
  • 2The appeal will be pursued by Johnson & Johnson and its Janssen Pharmaceutical Companies.
  • 3The company intends to vigorously defend itself against the judgment.
  • 4The legal matter is ongoing, and the ultimate outcome and financial impact are uncertain.
  • 5The company's press release contains forward-looking statements and urges caution regarding their reliability.
  • 6Details of the appeal and related litigation risks are further elaborated in JNJ's SEC filings (10-K, 10-Q).

Frequently Asked Questions

The main event is Johnson & Johnson's announcement that it will appeal a $572 million civil judgment related to an opioid lawsuit filed by the State of Oklahoma.

Johnson & Johnson, along with its Janssen Pharmaceutical Companies, disagrees with the judgment and intends to appeal it, stating they will vigorously defend themselves.

The financial impact of this judgment and the subsequent appeal is currently uncertain. The company has stated that due to the inherent uncertainty of litigation, they cannot predict the ultimate financial impact.

Investors can find more detailed information about the risks, uncertainties, and forward-looking statements in Johnson & Johnson's most recent Form 10-K (for the fiscal year ended December 30, 2018) and Form 10-Q filings with the SEC, as well as subsequent filings.