Thursday, June 18, 2009

Matrixx Class Action Reloaded

Matrixx, the maker of the popular cold fighter Zicam, has just announced it's pulling its products from store shelves, following a warning from the Food and Drug Administration (FDA) that Zicam has been linked to 130 cases of consumers losing their sense of smell. The company was sued in 2006 over the same issue; it settled more than 300 lawsuits at that time for $millions. Here we go again.

Let the class action lawsuits begin! And not just for the 1,000's of consumers who will claim loss of their ability to smell, but also for 1,000's of investors who have watched their stock (MTXX) plummet from $20 to $6 (Ouch!).

I grabbed and expect to sell it quickly to one of the many law firms looking to profit by attracting consumers and investors looking sue the company.

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