J&J Shareholders Sue Over $175M In CEO Compensation

Law360, New York (July 23, 2012, 9:55 PM EDT) -- Johnson & Johnson shareholders have launched a derivative suit in New Jersey alleging the company's directors awarded an excessive $175 million to the company's CEO over six years even as J&J faced a series of embarrassing lawsuits and product recalls, according to a complaint made public Monday.

The shareholders sued a dozen board members who they allege were responsible for awarding lavish and excessive executive compensation to Chairman and CEO William C. Weldon, claiming that their decision to award more than $175 million to Weldon between...
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