8-KOther EventsExhibits & Filings

JOHNSON & JOHNSON 8-K Report, Corporate Update (Apr 8, 2011)

Filed April 8, 2011For Securities:JNJ

Summary

Johnson & Johnson (JNJ) announced on April 8, 2011, that it will pay $70,006,316 to settle Foreign Corrupt Practices Act (FCPA) investigations by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC). This amount represents fines, disgorgement, and interest, and it was an amount previously reserved for by the company. The settlement resolves investigations into alleged improper payments made by JNJ's medical device subsidiaries in certain foreign countries. While the financial impact of this settlement is material, it is important for investors to note that the amount was already accounted for in prior periods through a reserve. This filing serves to provide transparency on the resolution of these legal matters, which have been publicly disclosed.

Key Highlights

  • 1JNJ to pay $70,000,6316 in fines, disgorgement, and interest to settle FCPA investigations.
  • 2The settlement is with the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC).
  • 3The amount paid was previously reserved for by Johnson & Johnson.
  • 4The investigations concerned alleged violations by JNJ's medical device subsidiaries.
  • 5The resolution provides closure on publicly disclosed legal matters.
  • 6The filing includes the relevant press release as an exhibit.

Frequently Asked Questions

This 8-K filing announces that Johnson & Johnson will pay $70,006,316 to settle Foreign Corrupt Practices Act (FCPA) investigations by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC).

No, the filing states that the amount paid was an amount previously reserved for by the company, meaning it was accounted for in prior financial reporting periods.

The investigations related to publicly disclosed allegations of improper payments made by Johnson & Johnson's medical device subsidiaries in certain foreign countries.

The settlement brings closure to these FCPA investigations, which have been publicly disclosed. While the financial amount is substantial, the fact that it was already reserved for mitigates the impact on current earnings. It underscores the company's commitment to resolving legal matters and maintaining compliance.