J&J Denied Supreme Court Review of Investor Class Certification

Johnson & Johnson failed to convince high court justices to look at whether investors should’ve been certified as a class in a lawsuit alleging the pharmaceutical giant misrepresented the safety of its talc products.

J&J had wanted the justices to clarify their 2021 ruling in Goldman Sachs Grp., Inc. v. Ark. Teacher Ret. Sys., where the court established a tool for opposing class status in cases where investors argue misstatements sustained elevated share prices, known as the “inflation-maintenance” theory.

The Supreme Court in Goldman said companies can rebut a presumption that shareholders as a class relied on its stock ...