DALLAS, July 8, 2009 (GLOBE NEWSWIRE) -- Reports of potential securities law violations by Matrixx Initiatives, Inc. (Nasdaq:MTXX) has caused an investigation by a former federal judge and U.S. Attorney at Kendall Law Group.
Matrixx stock plummeted from $19 to $7 per share when the FDA announced that the agency "is aware that Matrixx appears to have more than 800 reports related to loss of sense of smell associated with Zicam Cold Remedy intranasal products." Matrixx manufactures Zicam, an anti-allergy medication. Many users of the product claim that Zicam has destroyed their sense of smell. Due to this revelation by the FDA, the SEC has begun an informal investigation into Matrixx.
If you purchased shares of Matrixx since December 2007, you can assist Kendall Law Group's investigation by contacting attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com. Although every case is different, Kendall Law Group has participated in the recovery of over $800 million for defrauded shareholders. For more information about the firm, visit www.kendalllawgroup.com.