J&J, plowing ahead with talc bankruptcy strategy, faces investor push to pull product worldwide
Johnson & Johnson has asked U.S. officials to cut in after an activist investor sought to halt sales of the company’s talc-based baby powder abroad. | Activist investor platform Tulipshare wants to leverage a vote to stop J&J from selling its talc-based powder around the world. J&J faces nearly 40,000 lawsuits related to talc safety concerns, which hinge on the product’s potential to cause cancer. Not content to play sitting duck, J&J has asked the U.S. Securities and Exchange Commission to exclude Tulipshare’s proposal from its upcoming annual meeting.
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