Matrixx settles Zicam suits
This article was originally published in The Tan Sheet
Executive Summary
Matrixx has reached a settlement agreement intended to end 90% of the product liability litigation related to the firm's ZicamCold Remedy Nasal Gel, the company announces Jan. 19. The suits, filed in April 2004 in Arizona state court, involve approximately 340 plaintiffs who allege that use of the cold product caused them to lose their sense of smell. As a result of the settlement, the plaintiffs will dismiss their case with prejudice in return for an undisclosed sum of money. The individual amounts will be determined by medical protocol, Matrixx adds. The firm expects to pay a total of $12 mil. to fund the program; in order to go ahead with the settlement, 95% of the plaintiffs must accept the terms within two months, according to the firm. The company will "continue to fight" related litigation in Alabama and Colorado, a company spokesperson said (1"The Tan Sheet" Nov. 13, 2004, p. 13)...
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