J&J OK'd To Proceed With Investor Deal In Compliance Row

Law360, New York (October 26, 2012, 10:42 PM EDT) -- A New Jersey federal judge on Friday overruled shareholder objections and approved Johnson & Johnson's settlement of investor suits over its regulatory and legal run-ins that led to product recalls and criminal kickback charges concerning Iraqi contracts, costing the company millions of dollars.

U.S. District Judge Freda L. Wolfson greenlighted the settlement, in which J&J agreed pay up to $10 million in attorney’s fees and $450,000 in costs and modify its corporate governance.

The court will appoint someone to help it determine the appropriate attorneys’ fees...
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