Lack Of Alternative Dooms ERISA Stock Case Involving J&J Asbestos Disclosure

Mealey's (April 30, 2020, 1:35 PM EDT) -- NEWARK, N.J. — Plaintiffs have not alleged an alternative action Johnson & Johnson could have taken in regard to disclosing the potential contamination of its talc with asbestos that would not have resulted in more harm than good to its stock price, but the plaintiffs may amend their Employee Retirement Income Security Act class action to correct the deficiency, a federal judge in New Jersey said April 29 (Michael Perrone, et al. v. Johnson & Johnson, et al., No. 19-923, D. N.J., 2020 U.S. Dist. LEXIS 74962)....