Matrixx Initiatives, Inc.
Saxena White P.A. filed suit on behalf of shareholders of Matrixx Initiatives, Inc. ("Matrixx") in relation to Matrixx's alleged violations of FDA regulations involving Zicam Cold Remedy products. The Honorable Roslyn O. Silver denied Defendant's Motion to Dismiss on September 26, 2011. Plaintiff's Motion to Certify Class, Appoint Lead Plaintiff as Class Representative, and Appoint Class Counsel was granted on July 31, 2012.
On October 19, 2012, the parties participated in an all-day mediation session that culminated in an agreement pursuant to which Defendants will pay $4.5 million to settle the action. On January 31, 2013, Plaintiff filed a motion for preliminary approval of the settlement, which the Court granted on May 1, 2013. On September 5, 2013, the Court held a fairness hearing to evaluate the parties’ application for final approval of the settlement. On September 6, 2013, the Court entered a Final Judgment and Order, finding that the settlement was fair, adequate and reasonable and granting final approval of the settlement.