Johnson & Johnson Settles Shareholders' Recall Suit For $22.9M

Johnson & Johnson Settles Shareholders' Recall Suit For $22.9M

TRENTON, N.J. - Plaintiffs in a shareholder lawsuit against Johnson & Johnson on July 15 asked a New Jersey federal judge to preliminarily approve a $22.9 million settlement of allegations that the drug maker caused their stock value to drop after the company conducted a massive recall of over-the-counter drugs, disclosed quality control problems at a manufacturing plant and revealed a "phantom recall' of Motrin brand pain reliever (Ronald Monk, et al. v. Johnson & Johnson, et al., No. 10-4841, D. N.J.).

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