In recent news, a U.S Securities and Exchange Commission (SEC) lawsuit against the inventor of Zicam, a popular cold medicine, faced dismissal by a federal judge in California. This case hinged on allegations that the inventor was involved in a scheme to defraud investors through a fictitious movie studio.
However, the legal proceedings took a turn due to what has been described as a ‘concerning error’ by the SEC. This oversight involved omitting crucial details regarding the inventor’s mental competency, or rather, a lack thereof. In light of this, the judge decided to dismiss the case due to the inventor having been previously ruled as mentally incapable of comprehending the associated criminal charges.
For more information on this ongoing legal development, you can get the full context and details from the original report from Law360.