Proposal For J&J To Halt Talc Powder Sales Worldwide Fails In Shareholder Vote
Audit Of Whether J&J Marketed To Minority Women Despite Asbestos Concerns Considered
Activist investment group Tulipshare’s proposal that J&J fully cease sales of talc-based powders didn’t receive a majority of votes in favor during firm's annual meeting and won’t be forwarded for board’s consideration. Separate proposal for an audit into whether firm marketed products to minority women asbestos concerns was sent to the board.
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Q1 results arrive with cautionary forecasts on “external challenges” limiting sales and net income growth. Limited availability and higher commodity prices and increased costs for labor, energy and transportation are “pervasive across the enterprise but most notable in consumer health,” says CFO Joseph Wolk.
J&J Cosmetic Talc Lawsuits Halted, $2Bn Trust Created, As Subsidiary Takes Liabilities Into Bankruptcy
Johnson & Johnson’s newly created subsidiary LTL Management LLC will take all cosmetic talc injury claims against the Johnson’s Baby Powder manufacturer into bankruptcy proceedings. J&J says the move is designed to ensure “equitable” resolution for all parties, while plaintiff’s attorneys have a decidedly different view on the matter.
J&J’s targeted marketing of talcum powder products to women of color verges on “corporate brutality,” Black Women for Wellness and more than 200 allied organizations suggest in recent letters to J&J leadership. The firm affirmed its commitment to equality and racial justice in June, but BWW wants J&J to “walk the talk.”