Financial Daily Dose 8.27.2019 | Top Story: OK Judge Hits Johnson & Johnson With $572 Million Fine in Opioid Trial

Robins Kaplan LLP

Robins Kaplan LLP

A bad day for J&J in Oklahoma at the close of the state’s trial against Johnson & Johnson means that the company’s on the hook for upwards of $572 million for its role in the opioid crisis that’s decimated swaths of the state. The trial was the first against an opioid manufacturer and bodes ill for others in the 2,000 more lawsuits that await them across the U.S. – NYTimes and WSJ and Bloomberg and MarketWatch and Law360

The latest twist in the Carlos Ghosn/Nissan saga includes allegations that the former CEO ran a tech fund—a separate parallel business—using “millions of dollars he received from an executive at a Nissan business partner in Oman – WSJ

Anyone trying to sort out an economic position based on White House comments on the trade war with China, let me just say this: GOOD LUCK – NYTimes and WSJ and Bloomberg

In other US financial news, Fed economists aren’t exactly fighting back against the White House’s near-constant criticism of Chair Powell, but they’re not just sitting idly by, either – NYTimes

Also, about those phone calls . . . – Bloomberg

New York has extended the statute of limitations window on its powerful Martin Act and will now allow its state AG 6 years to bring financial fraud claims, “undoing a landmark decision from the state’s highest court that had held a three-year statute of limitations applied” – Law360

IMF officials are winging their way to Argentina to check on the status of the Fund’s record loan to the troubled country as the economic turmoil there only deepens after incumbent president Mauricio Macri “got trounced by the populist opposition in a nationwide primary vote” – Bloomberg

Kraft Heinz’s David Knopf experiment is over. The food giant announced on Monday that the 31-year-old finance chief will return to 3G capital and former CFO Paulo Basilio will retake the job he left in 2017 – MarketWatch

The DEA has taken a small but important step forward in the formerly taboo field of marijuana research – WSJ

Disturbance in the Force, anyone? D23 gave us a minor peek (but peek nonetheless) into the Rise of Skywalker edition that will be released in December – Disney

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