FEDERAL COURT CASE
SECURITIES
50-7-8105 In re Johnson & Johnson Derivative Litigation, Dist. Ct. (Wolfson, U.S.D.J.) (53 pp.) Before the Court is a motion to approve the final settlement reached between Plaintiffs-shareholders and nominal Defendant J&J Corporation (“J&J”) in several consolidated shareholder derivative actions, as well as motions to intervene and dismiss by an objector to the settlement. Through the settlement, J&J agrees to institute corporate governance changes and pay up to $10 million in attorney’s fees and $450,000 in costs, subject to the Court’s approval. The Court will approve the settlement and appoint a special master to aid the Court in determining reasonable attorney’s fees and costs. The Court denies the objector’s motions to intervene and to dismiss. [Filed October 26, 2012]
