J&J Investors Renew Push For CEO Liability In Recalls

Law360, New York (January 4, 2012, 3:35 PM EST) -- A putative class of Johnson & Johnson shareholders on Tuesday lambasted a New Jersey federal judge’s interpretation of a key provision of securities law as they sought to hold the company’s CEO liable for several costly recalls of Tylenol and other medications.

The shareholders urged U.S. District Judge Freda L. Wolfson to reconsider a December ruling dismissing J&J CEO William Weldon from the lawsuit, which alleges the company failed to disclose manufacturing violations that led to the recalls. The ruling found that Weldon could not be...
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