NEW YORK, Feb. 9, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Johnson & Johnson ("J&J" or the "Company") (NYSE: JNJ) and certain of its officers, on behalf of shareholders who purchased J&J securities during the period between February 22, 2013 and February 7, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/jnj.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and 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) consequently, 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 reported that "court proceedings could expose potentially damaging documents" in connection with J&J's talc products, such as Johnson's Baby Powder. Following this news, J&J stock dropped $7.29 per share or over 5% to close at $130.39 per share on February 5, 2018. Then, on February 7, 2018, the Beasley Allen Law Firm published 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 continued 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," and continued to explain how J&J stopped testing talc samples for asbestos contamination after majority of the sample batches were found to be positive for asbestos. Following this news, J&J stock dropped.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/jnj or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in J&J you have until April 9, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.