LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of Johnson & Johnson (“J&J” or the “Company”) (NYSE: JNJ) between February 22, 2013 and February 7, 2018, inclusive (the “Class Period”). JNJ investors have until April 9, 2018 to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit the JNJ page on our website at www.glancylaw.com/case/johnson-johnson. Investors that suffered losses on their JNJ investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
The complaint filed in this class 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 the exposure to those 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.
On February 5, 2018, CNBC published an article stating that “court proceedings could expose potentially damaging documents” related to J&J’s talc products, such as Johnson’s Baby Powder. On this news, shares of J&J fell $7.29 per share or more than 5%, to close at $130.39 on February 5, 2018.
Then, on February 7, 2018, the Beasley Allen Law Firm issued a press release stating that “[l]awsuits 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.” The release stated 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. On this news, shares of J&J fell $5.06 per share, to close at $126.36 per share on February 8, 2018, thereby further injuring investors.
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If you purchased shares of JNJ during the Class Period you may move the Court no later than April 9, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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