Lawsuits Mounting for Zicam Maker Matrixx Initiatives
July 6, 2009 at 5:24 pm EST | Tags: Collapses & Setbacks, FDA, Zicam
The lawsuits
are piling up for Matrixx Initiatives (MTXX), maker of Zicam.
Last month, MTXX was dealt a severe blow when the FDA cautioned consumers that Zicam could lead to anosmia (permanent loss of smell).
Last week, MTXX said there were six class action lawsuits connected to Zicam that it was aware of and that it was also facing a personal injury lawsuit involving 117 plaintiffs.
In an SEC filing, MTXX said it:
“…intends to vigorously defend each of the recently filed lawsuits.”
Shares of MTXX were down $0.20 (3.39%) to $5.84 in after-hours trading. MTXX closed at $6.05, down $0.43 (6.64%) from its July 2 close of $6.48.
The scandal goes on…
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what a scam…