Matrixx Defends AER Nondisclosure In Supreme Court Brief
This article was originally published in The Tan Sheet
Executive Summary
Matrixx Initiatives argues shareholder respondents "fundamentally misconceive" the materiality standard, and defends its nondisclosure of adverse events that are not statistically significant in a reply brief filed in ongoing Supreme Court litigation.
You may also be interested in...
Matrixx Bought By Private Equity Firm H.I.G., Settles Personal Injury Lawsuits
Matrixx Initiatives announced Dec. 14 private equity firm H.I.G. Capital will acquire the Scottsdale, Ariz.-based maker of Zicam cough/cold products for approximately $75.2 million.
Government Weighs In For Shareholders In Matrixx Supreme Court Case
The federal government says materiality should be the standard for deciding when firms must disclose information about problems to shareholders, arguing that Matrixx Initiatives presents a "false choice" between disclosing all information or only that considered statistically significant.
Matrixx Misled Shareholders About Zicam Problems, Investors Allege
Shareholders in litigation against Matrixx Initiatives pending in the U.S. Supreme Court say a reasonable person's decision on whether information about a firm is important – not a statistical significance measure – should be the standard for determining when a company must reveal problems with a product.