BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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) securities 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.
Investors suffering losses on their JNJ investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
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.
If you purchased shares of JNJ, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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