Judge Trims J&J Investor Suit Over Kids' Meds Recalls

Law360, New York (December 19, 2011, 9:35 PM EST) -- A New Jersey federal judge on Monday pared a putative shareholder class action accusing Johnson & Johnson of failing to disclose manufacturing violations that led to several recalls of popular children's medications and caused the health care company's stock to tank.

U.S. District Judge Freda L. Wolfson dismissed claims against William Weldon, CEO of J&J, and Peter Luther, president of J&J subsidiary McNeil-PPC Inc., saying the plaintiff's allegations regarding the executives' intentions to mislead investors were conclusory.

The judge, however, allowed claims against Colleen Goggins, the...
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