Johnson & Johnson (NYSE:JNJ) received preliminary inquiries and subpoenas requesting for documents related to the safety of its baby powder products containing talc.
JNJ shares are down by less than 1 percent to $135.06 per share around 12:17 in the afternoon on Thursday.
In its Form 10-K filing, the company disclosed that the inquiries and subpoenas came from Department of Justice and the Securities and Exchange Commission (SEC), and Senator Patty Murray (D-WA), a member of the Senate Committee on Health, Education, Labor and Pension.
According to Johnson & Johnson, it is “cooperating with these government inquiries and will be producing documents in response.”
Johnson & Johnson faces multiple lawsuits involving its baby powder products
The company is facing 13,000 lawsuits involving its baby powder products containing talc particularly Johnson’s Baby Powder. Plaintiffs alleged that the talc in its products have asbestos that caused mesothelioma, ovarian cancer, and other diseases.
