Question
From October 2003 to February 2004, James Siracusano purchased thousands of Matrixx Initiatives Inc. shares. After purchasing shares, Siracusano argued that the company had violated
From October 2003 to February 2004, James Siracusano purchased thousands of Matrixx Initiatives Inc. shares. After purchasing shares, Siracusano argued that the company had violated the security and change act of 1934 when it had sold him those shares. Specifically he argued that before October 2003, the company had found out that one of its drugs had harmful side effects and this information was not released. The drug, Zicam, had allegedly been systematically leading to a permanent loss of smell. However, to win his case Siracusano needed to not only point out the matrixx knew about the harmful effects of the drug before the period in which he bought hey shares but also that there was a high statistical rate of the occurrence of the adverse side effects. How do you Think the case turned out? [Matrixx Initiatives v. Siracusano, 131 S. Ct. 1309 (2011)]
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