Thu. Nov 21st, 2019

J&J stock up 4% after judge fines company less than some expected in landmark opioid case

1 min read

Shares of Johnson & Johnson

JNJ, +0.80%

rose 4% in after-hours trade Monday after a judge ordered the consumer-products giant to pay $572 million for contributing to the opioid crisis in Oklahoma. The amount was less than the $1 billion some analysts had expected the company to be fined. This was the first opioid case to go to trial and the verdict could help shape the results for around 1,500 similar opioid-related suits filed by state and local governments, now consolidated in federal court in Ohio. Shares of J&J have fallen 1% in the year to date, while the Dow Jones Industrial Average

DJIA, +1.05%

has gained 9.9%. The S&P 500

SPX, +1.10%

has gained 14.8%.

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