"Class Action Certified for Johnson & Johnson Shareholders in Talc Disclosure Lawsuit"

A U.S. federal judge has certified a class action lawsuit allowing Johnson & Johnson shareholders to sue the company collectively over allegations of fraudulent concealment of asbestos in its talc products. The class action covers shareholders from 2013 to 2018, with the judge rejecting J&J's argument to shorten the class period. Despite J&J's insistence on the safety of their talc products, the certification follows a series of stock price drops linked to revelations about the asbestos contamination, including a $4.69 billion jury award to 22 women and a Reuters report exposing J&J's long-standing knowledge of the risks. The company also faces over 50,000 lawsuits related to its talc products but has been unsuccessful in using bankruptcy to limit litigation exposure.