December 29, 2023. The Court in Johnson & Johnson Securities Litigation (District of New Jersey) certified a class of common stock investors. Plaintiff alleges that Defendants artificially inflated the price of Johnson & Johnson’s common stock by making false and misleading statements to conceal from investors that the Company’s talc products were contaminated with asbestos. Professor Steven Feinstein of Babson College and Crowninshield Financial Research provided expert analysis and deposition testimony establishing that Johnson & Johnson stock traded in an efficient market and that a common damages methodology can measure damages for all Class members.
In its Opinion granting Plaintiff’s Motion for Class Certification, the Court noted, “Plaintiff’s expert comprehensively addressed and analyzed the Cammer and Krogman factors. (Pl.’s Mov. Br. at 17.) The expert opined that during the relevant period, J&J stock satisfied all of the Cammer and Krogman factors.”
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