Shareholder Suit Over J&J Recall, Kickback Woes Tossed

Law360, New York (October 3, 2011, 3:57 PM EDT) -- A New Jersey federal judge on Thursday dismissed a derivative shareholder suit against health giant Johnson & Johnson, ruling the complaint lacked facts to show that J&J executives ignored warning signs about drug recalls, kickback schemes and other damaging incidents.

U.S. District Judge Freda L. Wolfson said the allegations, though “troubling and pervasive,” do not include enough specific information to overcome the higher standard of scrutiny required because the plaintiffs did not first take their concerns to the J&J board.

“None of the various types of...
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