Amid Scandals, J&J CEO's Pay Was Too High: Suit

By Richard Vanderford (September 2, 2011, 5:51 PM EDT) -- A Johnson & Johnson shareholder on Thursday filed suit claiming the company's board of directors sold them out by giving CEO William Weldon a "lavish and extreme" salary as he presided over a series of scandals.

Share prices at J&J have remained flat during Weldon's nine-year tenure and the company has lurched through a series of embarrassing problems under his leadership, the shareholder, the George Leon Family Trust, said in its complaint.

"J&J's reputation and brands have suffered unprecedented harm under Weldon's leadership," it said.

The suit adds to a long list of actions that have questioned the board's recent leadership,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Companies

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!