J&J, Kenvue Rebuffed on Fresh Look at IPO Case, Early Appeal

Johnson & Johnson, its spinoff Kenvue, and Kenvue’s underwriters can’t relitigate the sufficiency of investor claims about the new company’s IPO and won’t be given an immediate appeal, a federal court ruled.

Judge Zahid N. Quraishi’s decision Tuesday means the companies will have to face claims that Kenvue’s initial public offering documents omitted a long-simmering risk that the Food and Drug Administration would deem a nasal decongestant ingredient ineffective. The suit is pending in the US District Court for the District of New Jersey.

• Quraishi ruled in March that the complaint plausibly alleged that statements tied to Kenvue’s IPO and ...