- Corporate Cost-Cutting: Will Early Gains Turn to Pain?
- Earnings Woke Up the Market, but Can It Continue?
- China Regulator: Bank Lending May Be Overheating
- Fortress Names Ex-Fannie Head Mudd as CEO
- The 15 Most Expensive Cities on Earth
- Box Office: 'Potter' Hauls in $160 Million in 5 Days
- Healthcare Debate: Obama Tries to Regain Upper Hand
- Berkshire Hathaway Rallies for Best Week Since March
- Cramer: Know When to Go Long—I Haven't Always
- Berkshire Hathaway Rallies 6% For Best Week Since March Lows
- Market 360: The Week's Best & Worst
- How Bad is the DVD Decline and Who Suffers?
- Teva, Propofol And Michael Jackson
- Pros Say: US Market Rally Likely to Continue
- Gold Miner Attracting Big Bull Interest
- Dick Bove: Next Week’s Bank Earnings Will Be ‘Terrible’
- Jesuthasan: 'Deleveraging Pay-The Proof is in the Bathwater'
- Art Cashin: Traders Don't Trust 'Short Term' Earnings
- Interior to halt uranium mining at Grand Canyon
- AOL tries to recapture that startup feeling
- Opposition Republicans attack Obama on health care
- Retail stocks see new calculus on investors' hopes
- J.C. Penney takes on Manhattan
- GRD board supports $86 million takeover by AMEC
- Report: Suspect killed during Brazil zoo robbery
- Chairman of business journals dies of bee sting
- Japanese stock markets closed for national holiday
Text Size 
NEW YORK - Shares of Matrixx Initiatives Inc. fell Monday after the company disclosed several class action lawsuits related to its withdrawn cold treatment Zicam.
After the markets closed on Thursday ahead of the long holiday weekend, the Scottsdale, Ariz.-based company said it is aware of six class action lawsuits connected to Zicam. The company also has disclosed a personal injury lawsuit involving 117 plaintiffs.
The Food and Drug Administration advised consumers to stop using Zicam products in mid-June, because the zinc in Zicam swabs and gel may damage the sense of smell. Matrixx started a voluntary recall on June 24.
"The company intends to vigorously defend each of the recently filed lawsuits," Matrixx said in a filing with the Securities and Exchange Commission. It said it expects more lawsuits.
Matrixx disclosed lawsuits involving residents of Arizona, Illinois, California, Florida, Texas, Minnesota, Wisconsin and Missouri. It said the California suit "alleges, among other things, that the company concealed or omitted material information regarding the safety of the nasal gel products."
In afternoon trading, Matrixx shares fell 73 cents, or 11.3 percent, to $5.75. The stock has ranged from $4.39 to $19.74 over the past year.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes