Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Johnson & Johnson (“J&J”) (NYSE: JNJ).
The Company has been embroiled in significant litigation by over 11,000 consumers claiming that its iconic talc powder products contained asbestos that caused cancer. Some cases have resulted in massive verdicts against J&J including a $417 million award to one California plaintiff in August 2017 and a $4.7 billion award in Missouri to 22 plaintiffs in July 2018. Further, a Mississippi state court recently denied J&J’s request to dismiss a lawsuit filed by the state’s Attorney General over its failure to disclose the risk, allowing that case to proceed.
Recently, news reports based on internal company documents obtained in the litigation revealed extensive evidence indicating that for many decades Company executives knew that its talc samples had tested positive for asbestos and took various measures to conceal the information from the public.
The Company has been exposed to significant financial losses as well as a securities class action lawsuit for failing to disclose material information to investors, violating federal securities laws, which is ongoing.
KSF’s investigation is focusing on whether J&J’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of J&J shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or click here.