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December 19, 2018

Lanier Says it “Serves My Purposes” to Drive Down Company’s Stock

Mark Lanier, the plaintiffs’ lawyer leading the talcum powder litigation against Johnson & Johnson, admitted to CNBC that driving the company’s stock price down helps him win settlements.

Lanier called it a “business decision” for companies to settle lawsuits, and that it “serves my purposes as a litigator to say, ‘Yes, get their attention; keep driving the stock down.’” Johnson & Johnson lost $50 billion in stock value since last Friday, when a report alleged the company’s talcum powder products may be contaminated by asbestos.  

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