In re Johnson & Johnson Derivative Litigation, No. 10-2033; U.S. District Court (DNJ); opinion by Wolfson, U.S.D.J.; filed September 29, 2011. DDS No. 12-7-xxxx [67 pp.]
This consolidated shareholder derivative action arises out of allegations that accuse certain former and current officers and directors of nominal defendant company Johnson & Johnson (J&J) of breaching their fiduciary duties by permitting and fostering a culture of systematic, calculated and widespread legal violations. In the complaint, plaintiff-shareholders intimate that these board members deliberately and knowingly took no actions in curbing various illegal activities that occurred throughout J&J’s business segments. Plaintiffs’ complaint consists of allegations of a series of “red flags” that plaintiffs allege placed the board on notice of serious corporate conduct that occurred in various divisions.
