Zicam Maker Coughs Up $4.5M to Settle Shareholder Action

Law360, New York (July 27, 2012, 7:42 PM EDT) -- Matrixx Initiatives Inc., maker of the cold remedy Zicam, has agreed to pay $4.5 million to settle an eight-year-old class action alleging the company violated securities laws by concealing reports that the medication may cause a permanent loss of the sense of smell, according to documents filed in Arizona federal court Friday.

Matrixx and lead plaintiff NECA-IBEW Pension Fund have reached an accord that would bring an end to a long-running suit that traveled all the way up to the U.S. Supreme Court before being remanded...
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