Jan 23rd, 2024 – Today, Johnson & Johnson (JNJ) reached an important agreement to end an investigation conducted by more than 40 states. The investigation accused the New Jersey based company of false disclosures regarding the real dangers to one’s health health deriving from the use of its talc-based products. By the way, this does not solve the high number of accusations from Johnson & Johnson consumers, according to which the talc-containing products were the main cause of cancer for them. Many of these civil lawsuits will go on trial during the course of 2024. So, it seems like the company just admitted its responsibilities in causing serious diseases to its customers because of its products. As a result, J&J stock price dropped by 1.64% at 16:00 EST.
As reported by a regulatory filing and The New York Times, Jack Ma and Joe Tsai, the two co founders of Alibaba (BABA), recently bought a large amount of shares of their own company for a total estimated value of hundreds of millions of dollars. Going into detail, Blue Pool, a Tsai’s family linked company, bought $152 million of equity in 2023 Q4, while Ma concluded a $50 million acquisition during the same period. This marks a relevant turning point in Jack Ma’s management style, considering the fact that, recently, he usually stayed out of the public eye by not conducting such big market operations. Consequently, Alibaba shares rose sharply by around 8%.
Today, the management team of a key Amazon’s (AMZN) warehouses in France was fined $34.7 million due to the excessive and unacceptable monitoring of all workers from the various plants. The french regulatory entity accusing Amazon is the French Data Protection Authority (CNIL) and its allegations mainly focused on the work interruptions measurement system adopted by the US company.
Author: Piero Foberti