Johnson & Johnson Issued Federal Subpoenas as Part of On-Going Investigation

The New York Times reports that in an SEC filing this week, Johnson & Johnson disclosed it had been subpoenaed by the Department of Justice and SEC regarding allegations that it led a decades-long campaign to cover up asbestos in Baby Powder and other talc products.

This follows a demand by Senator Patty Murray, member of the Senate Committee on Health, Education, Labor and Pensions, for documents and data confirming that J&J’s current talc products do not contain asbestos, as well as all communications with the FDA and all promotional materials regarding J&J talc products from 1966 to present.

Johnson & Johnson shares fell 1.4 percent on news of the Federal subpoenas.

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