Supreme Court To Hear Matrixx Zicam Securities Case

Law360, New York (June 14, 2010, 10:46 AM EDT) -- The U.S. Supreme Court has agreed to take up the question of whether drug companies have to disclose all reports of adverse events linked to a particular drug to shareholders, in a case accusing Matrixx Initiatives Inc. of concealing from investors reports claiming that the cold medication Zicam caused users to lose their sense of smell.

In a order issued Monday, the high court granted Matrixx's petition to review a ruling by the U.S. Court of Appeals for the Ninth Circuit which gave the go-ahead to...
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