Shareholders Win Cert. In Suit Over Matrixx Cold Medicine
By Lana Birbrair
Law360, New York (February 27, 2012, 4:41 PM ET) -- A group of shareholders won class certification Monday in an 8-year-old Arizona suit alleging Matrixx Initiatives Inc. violated securities laws by concealing reports that cold medication Zicam caused a potentially permanent loss of the sense of smell.
U.S. District Judge Neil V. Wake certified a class of all people and entities who were damaged by their purchases of publicly traded Matrixx securities between Oct. 22, 2003, and Feb. 6, 2004, in a case that traveled all the way up to the U.S. Supreme Court before eventually...