J&J Workers Fight To Keep Asbestos ERISA Suit Alive

Law360 (September 15, 2020, 4:45 PM EDT) -- A group of former Johnson & Johnson employees urged a New Jersey federal judge to preserve their proposed ERISA class action, claiming they supported their allegation that the company's failure to admit there was asbestos in its baby powder led to a stock drop that affected their retirement savings.

Because J&J allegedly swept the indiscretion under the rug for decades and its employees kept their retirement money in company stock, the workers lost millions in savings when the situation came to light in news reports and J&J's stock price fell 10%, the ex-workers argued in a Monday brief opposing the company's...

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