ATTENTION JNJ EMPLOYEES: Zamansky LLC Investigates Possible ERISA Violations in the Johnson & Johnson Savings Plan
January 12 2019 - 3:08PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190112005023/en/
Zamansky LLC50 Broadway - 32nd FloorNew York, NY 10004Jake
Zamansky, 212-742-1414jake@zamansky.com
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