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Texas seeks to block Kenvue’s $400M dividend payout over autism lawsuit concerns.
Texas Attorney General Ken Paxton has asked a judge to block Kenvue from distributing $400 million in dividends, arguing the company may need the funds to cover potential legal liabilities if Texas wins its lawsuit.
The state alleges Kenvue failed to warn pregnant women about possible autism risks linked to acetaminophen, the active ingredient in Tylenol, a claim disputed by major medical groups.
Paxton’s request, based on a narrow insolvency law, is seen as unusual at this early stage and lacks evidence of financial instability.
Kenvue calls the move politically motivated and scientifically unfounded, planning to fight it in court.
The lawsuit follows controversial statements by Health Secretary Robert F. Kennedy Jr., whose remarks sparked stock declines and ongoing acquisition talks with Kimberly-Clark.
Texas busca bloquear el pago de dividendos de 400 millones de dólares de Kenvue por preocupaciones de una demanda por autismo.