Cases
Johnson and Johnson (NYSE: JNJ)
Securities Class Action
Overview
Overview
- Date:
- 4/2/2018
- Company Name:
- Johnson and Johnson
- Stock Symbol:
- JNJ
- Class Period:
- FROM 2/22/2013 TO 2/7/2018
- Status:
- Closed/Complete
NEW YORK, April 2, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Johnson and Johnson (NYSE: JNJ) securities between February 22, 2013 and February 7, 2018 (the “Class Period”). Investors have until April 9, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
This week, new documents were uncovered as part of existing lawsuits filed by ovarian cancer and mesothelioma victims. The documents indicate J&J knew for decades that cancer-causing asbestos and heavy metals were prevalent in the talc used in its Johnson’s Baby Powder and other products but failed to put a warning label on them. J&J stock prices plummeted after this and earlier disclosures.
According to the lawsuit, throughout the Class Period defendants made false or misleading statements, and failed to disclose 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 and mesothelioma. J&J’s denials that talc could cause cancer and mesothelioma were materially false and misleading, and the company concealed contingent liabilities and loss of future revenues from the product. As a result of the company’s actions, the lawsuit claims, investors suffered damages when the true details entered the market.
Joining Rosen as co-counsel in the lawsuit is renowned civil rights attorney Ben Crump, who said Johnson & Johnson engaged in “cynical tactics to market these products to women of color, while knowing their potential harm.”
“Johnson & Johnson devalued Black lives by expressly marketing a product to black customers that they knew for decades to be harmful,” Crump said. “Given that many black workers’ retirement funds depend on government pension funds that invest in this stock for their retirement, Johnson & Johnson victimized them twice, jeopardizing their physical and their financial health.”
In the 1990s, Johnson & Johnson began a concerted effort to boost the sales of its baby powder by “targeting” black and Hispanic women, according to a company memorandum made public in recent lawsuits that led to multimillion-dollar verdicts against the powder manufacturer. In the past, African-American women have reported significantly higher use of feminine hygiene products, including genital powder. A 2015 case-control study in Los Angeles found that 44 percent of African-American women reported using talcum powder, compared to 30 percent of white women and 29 percent of Hispanic women.
If you purchased or otherwise acquired Johnson & Johnson securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
This week, new documents were uncovered as part of existing lawsuits filed by ovarian cancer and mesothelioma victims. The documents indicate J&J knew for decades that cancer-causing asbestos and heavy metals were prevalent in the talc used in its Johnson’s Baby Powder and other products but failed to put a warning label on them. J&J stock prices plummeted after this and earlier disclosures.
According to the lawsuit, throughout the Class Period defendants made false or misleading statements, and failed to disclose 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 and mesothelioma. J&J’s denials that talc could cause cancer and mesothelioma were materially false and misleading, and the company concealed contingent liabilities and loss of future revenues from the product. As a result of the company’s actions, the lawsuit claims, investors suffered damages when the true details entered the market.
Joining Rosen as co-counsel in the lawsuit is renowned civil rights attorney Ben Crump, who said Johnson & Johnson engaged in “cynical tactics to market these products to women of color, while knowing their potential harm.”
“Johnson & Johnson devalued Black lives by expressly marketing a product to black customers that they knew for decades to be harmful,” Crump said. “Given that many black workers’ retirement funds depend on government pension funds that invest in this stock for their retirement, Johnson & Johnson victimized them twice, jeopardizing their physical and their financial health.”
In the 1990s, Johnson & Johnson began a concerted effort to boost the sales of its baby powder by “targeting” black and Hispanic women, according to a company memorandum made public in recent lawsuits that led to multimillion-dollar verdicts against the powder manufacturer. In the past, African-American women have reported significantly higher use of feminine hygiene products, including genital powder. A 2015 case-control study in Los Angeles found that 44 percent of African-American women reported using talcum powder, compared to 30 percent of white women and 29 percent of Hispanic women.
If you purchased or otherwise acquired Johnson & Johnson securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.