SAN FRANCISCO--(BUSINESS WIRE)--The law firm Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the publicly traded securities of Johnson & Johnson (“J&J” or the “Company”) (NYSE: JNJ) between February 22, 2013 and February 7, 2018, inclusive (the “Class Period”).
If you purchased or otherwise acquired J&J publicly traded securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than April 9, 2018. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the actions.
J&J investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
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 failed to disclose that: (1) J&J has known for decades that its talc products include asbestos fibers and that exposure to such 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 or misleading when made.
According to an internal Company memorandum made public in recent lawsuits against J&J, in the 1990s, J&J outlined a plan to hike lower sales of its powder “by targeting” black and Hispanic women.
On September 21, 2017, after the market closed, Bloomberg 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 that news, the price of J&J shares fell $2.28 per share over the next five trading days, or 2.81% from the closing price of $130.94 on September 20, 2017, to close at $129.47 per share on September 28, 2017.
On February 5, 2018, CNBC reported that lawsuits filed against J&J claiming that its talc products caused cancer “could expose potentially damaging documents.” On that news, the price of J&J shares dropped $7.29 per share, or 5.29% from the previous closing price of $137.68 on February 2, 2018, to close at $130.39 per share on February 5, 2018, on elevated trading volume.
After the market closed on February 7, 2018, the Beasley Allen law firm announced 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.” The firm’s press release also stated J&J ceased funding for a project designed to test talc samples for asbestos contamination after a majority of sample batches tested positive for asbestos. On that news, the price of J&J shares dropped $5.06 per share, or 3.67% from the closing price of $131.42 on February 7, 2018, to close at $126.36 on February 8, 2018.
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.”
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
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