Shareholder Suit
In a shareholder derivative action filed on the tail-end of 2010, a group of Johnson & Johnson some investors are alleging corporate directors are to blame for what plaintiffs characterize as a widespread breakdown in compliance with federal regulations.
The suit, filed in U.S. District Court of New Jersey by individuals and trustees of pension funds, alleges that directors violated their fiduciary duty and led to systemic control breakdowns. The lawsuit claims the result was whistleblower suits and manufacturing failures, large settlements and expensive recalls.
The filing of the law suit tops off a year during which Johnson & Johnson and its affiliate companies recalled nine drugs. (See here).
And in the medical products arena, 2010 saw the recall of DePuy ASRTM Hip Implant Products. The hip device was implanted in more than 30,000 patients, according to a Dec. 1, 2010 court filing by Johnson & Johnson’s attorneys.
The New Year brings ongoing litigation for J&J and its DePuy subsidiary by end-users of its products. Patient claims in against DePuy and Johnson & Johnson for problems associated with the hip implants have been filed in courts of 19 states, and more than 139 federal cases have been filed, according to the Dec. 1 filing.
Sheller, P.C. represents clients nationwide with the recalled hip implant and clients taking the drug Risperdal. If you believe you or someone you know has been injured by either of these products, see www.hiprecallhelp.com; or the link to the Sheller Web site on Risperdal, or call 1-800-883-2299.
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