Johnson & Johnson fined more than $1.1 billion

Johnson & Johnson and a subsidiary has been fined more than $1.1 billion after a jury found the companies downplayed the risks associated with an antipsychotic drug.

Nearly 240,000 violations were found by the judge of the case under the Arkansas Medicaid-Fraud Law.

Wednesday, Arkansas Attorney General Dustin McDaniel said at the Trumann Lions Club, "Janssen Pharmaceuticals and Johnson & Johnson defrauded the tax payers of this state, whether you took the drug or not, you were a victim in this case because it was your tax dollars that were involved and so the penalties that the judge imposed today, they were record penalties."

McDaniel also said they tried to settle the matter repeatedly but when the company refused, they took them to court.

Previous Risperdal verdicts against Johnson & Johnson include a $327 million civil penalty in South Carolina. Texas reached a $158 million settlement with subsidiary Janssen Pharmaceuticals in January.