Why Johnson & Johnson Stock Is Sinking Today

There are tens of thousands of claimants and a majority would have needed to vote to accept the proposed settlement, which J&J claims it had. The judge said, however, that the "unreasonably short voting time" made the votes suspect and that at least half of the votes "cannot count." This marks the third time Johnson & Johnson's bankruptcy strategy has failed in court. Shares of Johnson & Johnson (JNJ -6.68%) are tumbling on Tuesday. The company's stock lost 6.3% as of 2:25 p.m. ET. The drop comes as the S&P ...