Environmentalist group Friends of The Earth has registered a complaint with the ASX regarding Australian sunscreen manufacturer Antaria.
"The basis of the complaint is that Antaria Ltd has misrepresented to the market the nature of its principal product (ZinClear IM) which it manufactures and supplies to third parties in Australia and overseas for use in sunscreen applications, and has not disclosed important price-sensitive information to the ASX in a timely manner," reads FOTE’s complaint.
ZinClear is a zinc oxide powder in sunscreen, which European organic certifier Ecocert has been investigating and refused to certify as non-nano. Nano particles are claimed by some to pose a cancer risk.
“Antaria has been marketing the ZinClearIM sunscreen ingredient globally on the basis of its non-nano claims,” Gregory Crocetti, Friends of the Earth’s nanotechnology spokesman told the ABC.
“And with ZinClearIM making up over three-quarters of Antaria's sales any important information about ZinClearIM should have been reported to investors.”