According to the law firm press release, the Complaint alleges that throughout the Class Period Defendants made false or misleading statements, and failed to disclose that J&J has known for decades that its talc products include asbestos fibers and that the exposure to those fibers can cause ovarian cancer and mesothelioma. J&J’s denials that talc could cause cancer and mesothelioma were materially false and misleading, and the company concealed contingent liabilities and loss of future revenues from the product. As a result of the company’s actions, the lawsuit claims, investors suffered damages when the true details entered the market.

On November 26, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on February 28, 2019. Defendants filed a Motion to Dismiss the amended Complaint on May 3. On December 27, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.