A Johnson & Johnson investor has lodged a putative class action against the pharmaceutical giant, alleging it defrauded stockholders by attempting to cover up shoddy manufacturing and business practices — including a covert recall of substandard products.
According to a complaint in U.S. District Court in Newark, J&J and its subsidiary, McNeil Consumer Healthcare, secretly contracted other parties to do a quiet store-by-store buyback of Motrin products in which defects had been discovered, rather than contact the Food and Drug Administration.
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