J&J Says Investors' Baby Powder Claims Already Disproven

By Reenat Sinay (May 6, 2019, 2:11 PM EDT) -- Johnson & Johnson pushed a New Jersey federal judge Friday to toss a proposed class action accusing it of deceiving investors about selling asbestos-ridden baby powder products, arguing that years of testing showed that the products were safe.

The company asserted that shareholders are attempting to rehash decades-old allegations that have since been disproved by extensive independent testing on its talc products since allegations of asbestos first arose in the 1970s.

J&J further contended that because accusations of asbestos contamination have been public knowledge for about 50 years, the company's continued denial of it does not constitute a new or material...

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