On March 19, 2019, HII announced its decision to divest from Johnson & Johnson (JNJ), after the widely-publicized scandal surrounding the discovery of asbestos contamination in the company’s baby powder. This discovery was followed by thousands of lawsuits filed against the company, including several that were successful, resulting in multi-billion-dollar awards to plaintiffs.
Allegations related not only to JNJ famous baby powder products, but that the company had known about the danger for years, actively taking measures to conceal such information.
Recently, it was reported that the U.S. Department of Justice (DOJ) launched a criminal investigation of the company, and on July 9, 2019, JNJ announced on its website that it was fully cooperating with the investigation.
HII Announces JNJ Divestiture
