June 25, 2014
A New Jersey federal judge on Wednesday threw out a shareholder derivative suit alleging Johnson & Johnson and its board of directors showered a former CEO with $30 million in annual pay, saying the board was independent and acted in good faith.
November 18, 2013
Johnson & Johnson on Friday pressed a New Jersey federal judge to scrap a shareholder derivative suit accusing the company board of improperly showering an ex-CEO with $30 million in annual pay, asserting that directors had fulfilled their obligations to fully investigate the matter.
September 18, 2013
Johnson & Johnson on Monday asked a New Jersey federal judge to dismiss a shareholder derivative suit over $175 million the company had paid its CEO, citing a recently revamped state law that blocks derivative suits unless a company's board of directors decides they are in the company's best interests.
July 23, 2012
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.