Class Certified in J&J Talc Securities Fraud Action
January 2, 2024
CAMDEN, N.J. — A New Jersey federal judge has certified a class of investors who accuse Johnson & Johnson of fraudulently inflating the value of its stock by issuing false and misleading statements to conceal the fact that its talc products were contaminated with asbestos.
In a Dec. 29 order, Judge Zahid N. Quraishi of the U.S. District Court for the District of New Jersey certified the San Diego County Employees Retirement Association (SDCERA) as class representative and appointed Robbins Geller Rudman & Down LLP as class counsel.
J&J’s consumer segment products included its Baby Powder and Shower-to-Shower products, …