The manufacturer of Nature’s Way supplements has agreed to pay around $3.4 million to resolve claims that they misrepresented its Ginkgold products.
The settlement benefits individuals who purchased 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.
Plaintiffs in the Ginkgold class action lawsuit argued that Nature’s Way manufacturer Schwabe North America Inc. misleadingly marketed its products as able to provide memory and concentration benefits.
Ginkgold supplements contain ginkgo biloba — a type of tree native to China. Although the plant’s leaves and seeds have been used in traditional Chinese medicine to help with brain function and blood circulation, the Ginkgold class action lawsuit argues that no scientific studies have been done to corroborate these uses.
“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 contends.
Despite a lack of scientific support, Nature’s Way allegedly misrepresents its Ginkgold products in order to deceive consumers and encourage them to make purchases based on false promises.
Nature’s Way has not admitted any wrongdoing but has agreed to resolve the claims against it in a class action settlement. The company will pay nearly $3.4 million as part of the settlement in order to avoid the risks and costs of continuing litigation.
Under the terms of the settlement, Class Members can collect reimbursement of between $18 and $33 per product. Payments will provide reimbursement at a blended average between the cost of Ginkgold and Ginkgold Max products.
Class Members can collect $18.00 for Ginkgold Max 30 tabs, Ginkgold 50 tabs and Ginkgold 75 tabs and $33.00 for Ginkgold 150 tabs, Ginkgold 100 tabs and Ginkgold Max 60 tabs. Exact payment amounts will vary depending on the number of purchases and types of products claimed by each Class Member.
In order to benefit from the class action settlement, Class Members must file a valid claim form by Feb. 24, 2021. Documentation of purchases such as receipts are required if Class Members seek reimbursement for more than three purchases. If Class Members do not have proof of purchase, they can only claim up to three purchases.
Individuals who purchased Ginkgold or Ginkgold Max in California between July 7, 2011 and Oct. 1, 2020 may make a claim. Also included in the settlement are those who purchased the products between Jan. 1, 2016 and Oct. 1, 2020 if purchased anywhere else in the United States.
Covered products include:
- Ginkgold 60 mg (50 tablets);
- Ginkgold 60 mg (75 tablets);
- Ginkgold 60 mg (100 tablets);
- Ginkgold 60 mg (150 tablets);
- Ginkgold Max 120 mg (30 tablets); and
- Ginkgold Max 120 mg (60 tablets).