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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Siracusano, et al v. Matrixx Initiatives, et al


Case Number

2:04-cv-00886

Court

Arizona

Nature of Suit

Other Statutes: Securities/Commodities

Judge

Neil V Wake

Date Filed

April 27, 2004

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.