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News Summary: J&J in tentative deal on lawsuit

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News Summary: J&J in tentative deal on lawsuit
Submitted by Fox First at Ten on July 13th

By The Associated Press

SHAREHOLDERS SETTLE: Johnson & Johnson stockholders, trying to restore high standards, have reached a tentative settlement in their lawsuit against J&J's board and top executives for alleging letting serious legal and manufacturing problems continue for years.

LAUNDRY LIST: Lapses include paying kickbacks to boost product sales, marketing drugs for unapproved uses and repeatedly recalling prescription and nonprescription drugs and medical devices due to manufacturing deficiencies, including wrong levels of active ingredients and metal shards in liquid medicines.

COMPANY RESPONSE: J&J denies the plaintiffs' claims, saying it's settling to benefit J&J and its shareholders and to end distracting, expensive litigation.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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