Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Johnson and Johnson (NYSE: JNJ) in connection to alleged violations of securities laws by JNJ. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Johnson and Johnson from February 22, 2013 until February 7, 2018.
The class action complaint specifically alleges that during the period in question, JNJ might have provided false and/or misleading material information, and/or failed to disclose adverse material information, namely: that the company was aware, for decades, that there were asbestos fibers in its talc products, and that these fibers could cause mesothelioma and ovarian cancer in individuals exposed to them; and that consequently the company’s statements to the public about its business, operations and prospects during the relevant period were false and misleading. When CNBC reported on February 5, 2018 that court proceedings could expose potentially damaging documents” related to certain talc products, including Johnson’s Baby Powder, JNJ declined more than 5%, or $7.29, closing at $130.39/share on that day. When the Beasley Allen Law Firm announced on February 7, 2018 that legal actions “filed by ovarian cancer and mesothelioma victims are revealing never-before-seen documents from Johnson & Johnson and talc supplier, Imerys, that shed light on just how prevalent asbestos and heavy metals are in the talc used in Baby Powder,” and that “Johnson & Johnson documents from 1972 note that asbestos was found in 100 percent of talc samples tested at the time, but this information was never released publicly,” JNJ declined in value again. The complaint alleges that when true facts came to light, investors suffered losses.
According to the company’s website, Johnson and Johnson is a pharmaceutical, medical device and consumer goods company with a mission to “help people everywhere live longer, healthier, happier lives.” The company has more than 125,000 employees in sixty nations around the world. Its description states: “We embrace innovation—bringing ideas, products and services to life to advance the health and well-being of people around the world. We believe in collaboration, and that has led to breakthrough after breakthrough, from medical miracles that have changed lives, to the simple consumer products that make every day a little better.” The company trades on the New York Stock Exchange under the symbol JNJ.
A class action lawsuit has already been filed in connection with Johnson and Johnson. If you wish to serve as lead plaintiff in the JNJ lawsuit, you must move the Court no later than April 9, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.