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Lawsuits, payoffs, I mean settlements, tons more coming in from all over the world. JNJ in over their heads? Yep.
Keywords: jnj, johnson and johnson, johnson + johnson, J&J, payoff, settlement, corruption, lawsuit
Date Created/Edited: 2013, October 13
This is really interesting. It seems that Johnson & Johnson had a combined cash and investment reserve of $25.13 on June of 2013, end of second quarter. Sounds impressive, right? It's not, really, considering the amount of debt from trials regarding hips, mesh, Risperdal, Levaquin and so on far exceeds their cash on hand.
Hip litigation continues in at least four countries, and will likely continue to climb from known risks of harm by bad metal-on-metal hips.
Shareholders settle for a pathetic $23 million from a shareholder lawsuit due to allowing facilities to deteriorate and ignore FDA requirements for consumer safety. It is important to understand that the Ft Washington facility was so bad that it has taken over $100 million to clean it up enough to meet FDA requirements and it still isn't finished and open as promised. Unbelievable!
The cost of JNJ CEO Alex Gorsky's Risperdal/Medicaid/Omnicare scandal has already cost the company over $5 billion - with more lawsuits coming in.
Just ONE woman was awarded $3.5 million for harms and suffering from known defective pelvic mesh.
And now let's add in $3 Billion for Settlement of Its Hip Implant Cases, of course admitting to no wrong-doing even though all evidence points to the fact that they KNEW there were problems and stuck these harmful, defective devices in people anyway. The good thing is that this is ONLY for those injured in the United States, other countries will still continue with their lawsuits - so the bill of corruption may finally outweight the profit from harming humans.
We don't even know what's going on with newly acquired Synthes Corruption, Lawsuits and FDA Violations.
The global mesh complication appears as though it could top all of these combined with potential costs approaching $40 BILLION! Read $JNJ Pelvic Mesh Lawsuits Go Global for all the messy details.
I still think we ought to start a global class action lawsuit for carcinogens in BABY care products under child endangerment laws.
And that's all recent and probably not even the tip of the iceberg. And the lawsuits keep coming in. Wow. Billions and billions in litigation, compensation and settlements that drive up the cost of healthcare. Jeekers, no wonder Insiders, Berkshire, Trojan Drop Johnson & Johnson Stock , it's just logical with so much corruption liability ;o)
With corruption liability approaching $50 billion - corruption liability now far exceeds cash and investments on hand of only $25.13 billion. JNJ is about $25 billion short. Oops.
1. Y-Charts (Current). Johnson & Johnson Cash and Short Term Investments (Quarterly) Y Charts. Retrieved from http://ycharts.com/companies/JNJ/cash_on_hand
2. Emily Patterson (2013, July 19). Johnson & Johnson Pacifies Shareholder Lawsuit with Pathetic $23 Million Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/jnj_shareholder_settlement.shtml
3. PharmaLive (2013, August 20). J&J: We Achieved A 'Major Milestone' At Our Troubled OTC Plant Toronto Telegraph. Retrieved from http://www.torontotelegraph.com/index.php/sid/216482029
4. Emily Patterson (2013, June 7). Johnson & Johnson CEO Alex Gorsky and the $5+ Billion Risperdal Medicaid Scandal Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/alex_gorsky_risperdal.shtml
5. Linda A. Johnson (2013, February 25). Johnson & Johnson Vaginal Implant Lawsuit: New Jersey Woman Awarded $3.35 Million Huffington Post. Retrieved from http://www.huffingtonpost.com/2013/02/25/johnson-johnson-vaginal-implant-lawsuit_n_2761884.html
6. Jef Feeley and David Voreacos (2013, April 21). J&J Said to Weigh $3 Billion Settlement of Its Hip Implant Cases Publication. Retrieved from http://www.bloomberg.com/news/2013-08-21/j-j-said-to-weigh-3-billion-settlement-of-its-hip-implant-cases.html
7. Emily Patterson (2012, October 17). Johnson & Johnson Synthes: Corruption, Lawsuits and FDA Violations Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/synthes_corruption_lawsuits.shtml
8. Emily Patterson (2013, September 22). Johnson & Johnson Pelvic Mesh Lawsuits Go Global Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/mesh_global_lawsuits.shtml
9. Emily Patterson (Current section page). Twenty Years of KNOWN Carcinogens in J&J US Baby Care Products Finally Ends! Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/products.shtml
10. Emily Patterson (2013, August 12). First Insiders, Then Berkshire, Now Trojan Drop Johnson & Johnson $JNJ Stock Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/berkshire_trojan_insiders_drop_jnj_stock.shtml