9th Circ. Revives Matrixx Zicam Shareholder Action

By Erin Marie Daly

Law360, New York (October 28, 2009, 7:13 PM ET) -- A federal appeals court has reinstated a class action accusing Matrixx Initiatives Inc. of concealing from investors hundreds of consumer reports claiming cold medication Zicam caused users to lose their sense of smell.

In a ruling Wednesday, the U.S. Court of Appeals for the Ninth Circuit reversed and remanded the lawsuit, which targets Matrixx, CEO Carl Johnson, Chief Financial Officer William Hemelt and Vice President Timothy Clarot.

The U.S. District Court for the District of Arizona had previously granted the defendants’ bid to throw out the...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles