Johnson & Johnson baby powder/credit: MailHamdi/Shutterstock.com Appeals Court Rejects Claims That J&J Retirement Plan Administrators 'Should Have Seen Stock Price Drop Coming' Amid Talc Litigation
"Even if disclosure of some unfavorable documents was likely once discovery commenced in products liability litigation, it is to this day uncertain whether J&J should be liable in tort for dangers relating to its talc products," wrote Third Circuit Judge Kent A. Jordan. "The products liability actions are, after all, ongoing. It would make no sense for us to resolve the question of tort liability, still undetermined in that case, in this collateral ERISA litigation."
September 08, 2022 at 02:39 PM
7 minute read
The original version of this story was published on New Jersey Law Journal
The U.S. Court of Appeals for the Third Circuit affirmed the dismissal of a claim brought by Johnson & Johnson employees who alleged that the administrators of the company's Employee Stock Ownership Plan were "corporate insiders" who violated their fiduciary duties by failing to protect employees from a drop in stock price amid the company's baby powder controversy.
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