Matrixx Investors Get Class Cert. In Suit Over Zicam Effects

Law360, Washington (August 1, 2012, 2:27 PM EDT) -- An Arizona federal judge on Tuesday certified a class of Matrixx Initiatives Inc. shareholders who claim the company concealed hundreds of reports that its cold remedy Zicam products caused users to lose their sense of smell, which artificially inflated its stock price.

Matrixx previously balked at the certification request, saying the class couldn't allege it didn't know that there were reports of anosmia associated with Zicam use. The company also claimed that the proposed lead plaintiff, Alex Alegre de La Soujeole, could not adequately represent the...
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