Johnson & Johnson, the world’s largest maker of health-care products, agreed to pay $22.9 million to settle a lawsuit claiming it misled investors about quality-control failures that led to recalls, according to court papers.
The proposed settlement, filed July 15 in federal court in Trenton, New Jersey, would resolve claims that the failures led to the largest recall of over-the-counter children’s medicine in U.S. history, a plant closing and a congressional probe. The group, or class-action, accord still needs a judge’s approval.
