The Ginkgold Ginkgo Biloba Class Action Settlement
After being sued for misrepresenting its products, the manufacturer of Nature’s Way supplements will resolve the claims for $3.4 million.
This settlement will benefit the consumers who bought Ginkgold or Ginkgold Max in California between July 7, 2011, and Oct. 1, 2020, or between Jan. 1, 2016, and Oct. 1, 2020, if purchased anywhere else in the United States.
In the Ginkgold class action lawsuit, the plaintiffs argued that Nature’s Way manufacturer Schwabe North America Inc. falsely advertised its products as being able to “provide memory and concentration benefits.”
Although the product contains traditional ginkgo biloba that has been widely used in traditional Chinese medicine, the lawsuit asserts that there were no scientific studies that support the product’s claim.
“Numerous scientifically valid studies, performed by independent researchers and published in reputable medical journals, have been conducted on ginkgo biloba, and they have universally demonstrated that ginkgo biloba does not improve brain function, and is not effective in the treatment or improvement of memory problems or cognitive health,” the class action lawsuit claims.
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Are You Eligible?
With all these allegations, Nature’s Way didn’t admit to any wrongdoing. However, they agreed to a settlement. The company pledged to pay around $3.4 million settlement.
In this settlement, eligible Class Members may receive reimbursement of between $18 and $33 per product.
According to reports, these are the respective reimbursements for Class Members:
- $18.00 for Ginkgold Max 30 tabs, Ginkgold 50 tabs, and Ginkgold 75 tabs
- $33.00 for Ginkgold 150 tabs, Ginkgold 100 tabs, and Ginkgold Max 60 tabs
“The exact payments will depend on the number of purchases and the types of products claimed by each Class Member,” the settlement says.
Class Members should file a valid claim by Feb 24, 2021. Moreover, Class Members who have more than three purchases are required to secure documentation. The settlement states that Class Members who couldn’t present proof of purchase can only claim up to three purchases.
Meanwhile, the deadline for exclusion and objection is set for Dec. 26, 2020. Also, the final approval hearing for the Ginkgold class action settlement will be on January 25, 2021.
Editor’s note on The Ginkgold Ginkgo Biloba Settlement:
This piece is to inform you about The Ginkgold Ginkgo Biloba Settlement.
If you are considered eligible to be among the class of consumers described in the article above, you may eventually be able to participate in receiving any compensation the court may award.
We’d be happy to help you take a step in the right direction, fight this issue, and better enable you to join the consumer class action. If interested, please send an email to Outreach@ConsiderTheConsumer.com, find us on Twitter or Facebook, or even connect with us directly on our website! We look forward to hearing from you all.
Similarly, please check out our current list of Class Actions and Class Action Investigations, here.
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