INVESTOR ALERT: Former Attorney General of Louisiana Charles C. Foti, Jr. and KSF Notify Matrixx Initiatives, Inc. Investors of the Pendency of Class Action Lawsuit and Encourage Investors With Losses in Excess of $300,000 to Inquire About Lead Plaintiff
NEW ORLEANS, LA -- (Marketwire) -- 07/24/09 -- Kahn Swick & Foti, LLC ("KSF") announces that investors have only until September 15, 2009 to apply for lead plaintiff in a securities fraud class action lawsuit filed in the United States District Court for the District of Arizona, on behalf of purchasers of the common stock of Matrixx Initiatives, Inc. ("Matrixx" or the "Company") (NASDAQ: MTXX) between December 22, 2007 and June 15, 2009, inclusive (the "Class Period"). No class has yet been certified in this action.
If you would like to discuss your legal rights, along with the lead plaintiff position and its related responsibilities including overseeing lead counsel with a goal of obtaining a fair settlement, you may e-mail or call KSF Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone after hours at 504-301-7900, or by email at lewis.kahn@ksfcounsel.com.
Matrixx and certain of its officers and directors are charged with violating the Securities Exchange Act of 1934 by issuing a series of materially false and misleading statements during the Class Period, including the failure to disclose that: (i) Matrixx had received notice of hundreds of serious adverse events regarding the Zicam Cold Remedy Products; (ii) that Matrixx failed to report these incidents to the FDA despite having an obligation to do so; (iii) that the Company failed to comply with FDA regulations despite repeated assurances of its compliance; and (iv) that, as a result of the foregoing, the Company's statements about its meeting FDA regulations were false and misleading when made. According to the complaint, on June 15, 2009, after the FDA banned the use of certain zinc-containing Zicam products, the value of Matrixx's stock declined precipitously -- falling approximately 70% in the single trading day.
If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than September 15, 2009. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KSF Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@ksfcounsel.com. To learn more about KSF or former Attorney General of Louisiana Charles C. Foti, Jr., you may visit www.ksfcounsel.com. KSF is a law firm focused on securities class action litigation with offices in New Orleans and New York City.
KSF's lawyers have significant experience litigating complex securities class actions. Among other cases, KSF has been appointed Lead or Co-Lead Counsel in the following securities cases: In re: U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; In re Superior Offshore International, Inc. Securities Litigation, S.D. Tex.; Terayon Comm. Systems Inc., N.D. Cal.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal.
SPECIAL NOTICE: KSF encourages you to carefully evaluate any firm you may consider to represent your interests in the Matrixx class action. The Private Securities Litigation Reform Act ("PSLRA") permits Company shareholders to choose counsel of their choice to prosecute this action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Matrixx action in particular, AND especially the quality of the firm's work. While KSF has not filed suit yet, the firm is currently conducting its own investigation of Matrixx and interested shareholders are encouraged to call for consultation.
Contact:
Lewis Kahn
Kahn Swick & Foti, LLC
650 Poydras St., Suite 2150
New Orleans, LA 70130
1-866-467-1400, ext. 100
Lewis.kahn@ksfcounsel.com
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