Johnson & Johnson Prevails in Stock Drop Suit

In Perrone v. Johnson & Johnson, No. 21-1885 (3d Cir. Sept. 7, 2022) the Third Circuit ruled that the trustees of Johnson & Johnson’s 401(k) plan could reasonably argue that to remove Johnson & Johnson stock from the plan’s investment options in light of litigation over asbestos in its talcum powder could arguably have “done more harm than good” and thus were not obligated to make changes under the doctrine of the Dudenhoeffer decision.