Securities fraud class action litigation has been filed on behalf of investors in the publicly traded securities of Johnson & Johnson (“J&J” or the “Company”) (NYSE: JNJ). If you purchased or otherwise acquired the publicly traded securities of J&J between February 22, 2013 and February 7, 2018, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than April 9, 2018.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the actions. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
J&J investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.
Background on the J&J Securities Class Litigation
J&J, headquartered in New Brunswick, New Jersey, together with its subsidiaries researches and develops, manufactures, and sells health care products worldwide.
The action alleges that, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) J&J has known for decades that its talc products include asbestos fibers and that exposure to asbestos fibers can cause ovarian cancer and mesothelioma; and (2) as a result, defendants’ statements about J&J’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
In the 1990s, J&J outlined a plan to hike flagging sales of its powder “by targeting” black and Hispanic women, according to a company memorandum made public in recent lawsuits against J&J.
On September 21, 2017, The Chicago Tribune reported that “documents indicate that J&J has known for decades that its talc products include asbestos fibers and that the exposure to those fibers can cause ovarian cancer.” On this news, the price of J&J shares fell $2.28 per share over five consecutive trading days, from a close of 133.22 on September 20, 2017, to close at $129.47 per share on September 28, 2017.
On February 5, 2018, CNBC reported that on this news, shares of J&J fell $7.29 per share or over 5% from its previous closing price to close at $130.39 per share on February 5, 2018.
On February 7, 2018, the Beasley Allen law firm issued a press release stating that “[i]nternal 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.” It further stated that J&J stopped funding a project designed to test talc samples for asbestos contamination once a majority of the sample batches were found to be positive for asbestos.
Shareholder Contact Form
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”