Johnson & Johnson (NYSE: JNJ)
Hagens Berman Sobol Shapiro LLP alerts investors in Johnson & Johnson (NYSE: JNJ) to the firm's investigation into possible disclosure violations.
If you purchased or otherwise acquired securities of JNJ between May 1, 2018 through December 14, 2018 (the “Class Period”) on a U.S. exchang and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing JNJ@hbsslaw.com.
The investigation focuses on whether Johnson & Johnson misled investors regarding its exposure to claims relating to asbestos-tainted talc used to manufacturing its baby powder and other products.
On December 2, 2018, Reuters issued a report headlined “Johnson & Johnson knew for decades that asbestos lurked in its Baby Powder.” Reuters reported that internal Company documents reveal that scientific tests of the talc it used to manufacture baby powder and other products from as early as 1957 showed asbestos contaminants. As reported by Reuters, the information concerning the asbestos contaminated talc was slow to come to light because “[m]any were shielded from public view by court orders that allowed J&J to turn over thousands of documents it designated as confidential.” This story has been picked up by several other media sources.
Based on this news, the price of Johnson & Johnson shares plunged over 9% on December 14, 2018, wiping out $38 billion of market capital.
“Our focus is on investors’ losses and the Company’s disclosures in its public filings,” said Hagens Berman partner Reed Kathrein.
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