| Company: | Johnson & Johnson |
| Ticker Symbol: | JNJ |
| Class Period: | Oct-14-08 to Jul-21-10 |
| Date Filed: | Oct-1-10 |
| Lead Plaintiff Deadline: | Nov-30-10 |
| Court: | District of New Jersey |
| Allegations: | |
The action, pending in the United States District Court for the District of New Jersey, was brought against J&J and certain of its officers and directors for violations of the Securities Exchange Act of 1934. J&J, headquartered in New Brunswick, New Jersey, engages in the research and development, manufacture, and sale of various health care products worldwide.
The complaint in the above-mentioned action alleges that during the Class Period, defendants made materially false and misleading statements regarding J&J's financial condition and business prospects and concealed serious manufacturing and quality control problems at a number of J&J's facilities. According to the complaint, defendants failed to disclose that certain products manufactured at the facilities exhibited unusual odors, contained foreign materials and/or improper concentrations of ingredients, failed to meet testing requirements, and/or were otherwise contaminated.
As a result of those quality problems, J&J has issued eight separate recalls of dozens of over-the-counter consumer products, including more than 136 million bottles of children's and infants' liquid medicines, since September 2009. The Company also allegedly conducted a "phantom recall" of certain Motrin caplets by hiring contractors to secretly buy the product off store shelves without notifying regulators.
J&J is currently the subject of a number of government and regulatory investigations relating to the product recalls. In addition, during the Class Period, the Company's stock price declined following the gradual disclosure of defendants' allegedly wrongful conduct, therefore causing damages to class members.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
