J&J Investors Defend Suit Over Ex-CEO's $175M Payout

Law360, New York (October 08, 2013, 9:47 PM ET) -- A group of Johnson & Johnson shareholders on Monday renewed their suit alleging the company’s directors wrongly paid $175 million to a former CEO who headed the company as product recalls and damaging lawsuits depressed stock prices, arguing the J&J board shouldn't be allowed to scuttle their claims.

J&J had filed a motion to dismiss the shareholders' allegations in September, asking the judge to dismiss the case based on a New Jersey law that allows it to decline to pursue a derivative lawsuit if the board...
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