NOTICE TO CURRENT AND FORMER EMPLOYEES: Zamansky LLC Investigates the Johnson & Johnson Retirement Savings Plan for Possible ERISA Violations
NEW YORK--(BUSINESS WIRE)--Dec 14, 2018--Zamansky LLC announces that it has commenced an investigation of Johnson & Johnson Inc. (NYSE: JNJ) (“J&J”) on behalf of its current and former employees over the J&J Retirement Savings Plan (the “Plan”) for potential violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties to prudently manage and invest plan assets. The firm is investigating whether these duties were violated by the continued offering of J&J stock as an investment option under the Plan.
On December 14, 2018, Reuters reported that internal J&J documents produced in a lawsuit involving cancer-causing asbestos found in baby powder reflect that J&J senior officers and lawyers knew for many years about the contaminated talc. The documents showed that raw talc and finished powders sometimes tested positive for asbestos, and J&J executives, line managers, scientists, doctors and lawyers fretted over the problem and how to address it while failing to disclose it to regulators or the public. These revelations have caused J&J stock to fall by 10% so far.
According to employee stock and investment fraud attorney, Jake Zamansky, current or former J&J employees who purchased and held J&J stock through the Plan may have had their retirement savings damaged. The Reuters report raises serious questions about whether the Plan’s fiduciaries properly executed their duties under ERISA, which is designed to protect employees’ retirement savings from imprudent and inappropriate investments.
What Current and Former J&J Employees Can Do
If you are an existing or former J&J employee who purchased and held J&J stock through the J&J Retirement Savings Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at email@example.com.
About Zamansky LLC
Zamansky LLC is a leading stock law firm with a practice in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
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CONTACT: Zamansky LLC
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Jake Zamansky, 212-742-1414
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SOURCE: Zamansky LLC
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PUB: 12/14/2018 04:35 PM/DISC: 12/14/2018 04:35 PM