J&J TELLS SEC, DOJ SOME FOREIGN UNITS MAY HAVE BROKEN LAW

Johnson & Johnson (J&J) has informed the SEC and Department of Justice (DOJ) that some of the firm's foreign subsidiaries may have broken a law intended to prevent corporate bribery of foreign officials.

The unnamed J&J units are "believed to have made improper payments in connection with the sale of medical devices in two small-market countries," J&J said in a Feb. 12 statement.

The countries in question also were also unnamed. One of J&J's top executives has resigned over the matter.