for preliminary approval of a settlement agreement
that provides class members with a 30 percent cash refund of the company’s suggested retail price for Prevagen products. Class members with proof of purchase may receive a maximum award of $70 while class members without proof of purchase may receive a maximum award of $12. The company also agreed to stop marketing that Prevagen improves memory without adequate scientific evidence to support such claims or qualifying the advertising claim with a disclaimer. This settlement resolves seven lawsuits: Collins
, and Vanderwerff
, as well as one state case Miloro v. Quincy Bioscience
August 2019: The case was transferred to the Southern District of New York. (Case No. 17-cv-1091, E. D. NY.)
February 2017: A class-action lawsuit was filed against Quincy Bioscience for allegedly deceptively marketing Prevagen dietary supplements as clinically shown to improve memory and provide other cognitive benefits when such claims are false. (Karathanos et al v. Quincy Bioscience Holding Company, Inc. et al, Case No. 17-cv-1091, E. D. NY.)
For more information about the marketing of Prevagen and TINA.org’s coverage of the product, click here.