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ATTENTION JNJ EMPLOYEES: Zamansky LLC Investigates Possible ERISA Violations in the Johnson & Johnson Savings Plan

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01/12/2019 | 03:09pm EDT

Zamansky LLC investigates Johnson & Johnson Inc. (NYSE:JNJ) (“J&J” or the “Company”) on behalf of its current and former employees for potential violations of the federal Employee Retirement Income Security Act (“ERISA”) in the J&J Savings Plan (the “Plan”). We are investigating whether the ERISA fiduciaries violated duties of prudence by offering J&J stock to employees who are invested in the Plan.

On December 14, 2018, Reuters reported that internal documents produced by J&J in a lawsuit brought by 11,700 plaintiffs who allege their cancer was caused by asbestos found in talc in Baby Powder, reflect that J&J senior officers and lawyers knew for many years. Reuters reported the internal documents showed that raw talc and finished powders sometimes tested positive for small amounts of asbestos, and J&J executives, mine managers, scientists, doctors and lawyers fretted over the problem and how to address it while failing to disclose it to regulators or the public.

Following these revelations, J&J stock fell more than $25 per share, or over 17%, and the Company’s potential exposure may be far-reaching. According to employee stock fraud attorney Jake Zamansky, current or former employees of J&J who purchased and held Company stock through the Plan may have had their retirement savings damaged. Reuters’ allegations raise serious issues as to whether the Plan’s fiduciaries properly executed their duties under ERISA to protect employees’ retirement savings from imprudent and inappropriate investments, Zamansky states.

What Current and Former J&J Employees Can Do

If you are an existing or former J&J employee who purchased and held J&J stock through the J&J Savings Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at jake@zamansky.com.

About Zamansky LLC

Zamansky LLC is a leading stock law firm with a practice in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website, https://www.zamansky.com.

© Business Wire 2019
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Financials ($)
Sales 2019 81 223 M
EBIT 2019 25 632 M
Net income 2019 19 737 M
Debt 2019 8 612 M
Yield 2019 2,60%
P/E ratio 2019 20,29
P/E ratio 2020 18,44
EV / Sales 2019 4,82x
EV / Sales 2020 4,43x
Capitalization 383 B
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Number of Analysts 19
Average target price 149 $
Spread / Average Target 3,1%
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Alex Gorsky Chairman & Chief Executive Officer
Joseph J. Wolk Chief Financial Officer & Executive Vice President
Charles O. Prince Independent Director
William David Perez Independent Director
Anne M. Mulcahy Lead Independent Director
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