Status and Updates

November 18, 2020: After a Final Fairness Hearing, the Court grants final approval of the settlement agreement.

November 16, 2020: The FTC sends a letter to the Court to address certain arguments made in the parties’ responses to TINA.org’s amicus brief. Among other things, the FTC stated that (1) the absence of a formal brief from the FTC (or NYAG) opposing the proposed settlement should not be interpreted as acquiescence to, or approval of, the settlement terms; (2) it continues to believe that Quincy Bioscience has not proffered competent and reliable scientific evidence to substantiate memory or other cognitive claims for Prevagen; and (3) the FTC and NYAG intend to proceed with their law enforcement action and will seek both broad injunctive relief and related equitable relief including restitution in the form of consumer refunds.

November 9, 2020: Plaintiffs and defendant respond to TINA.org’s brief. Both parties argue, among other things, that the FTC’s lack of objection in this case amounts to its tacit approval of the proposed settlement terms.

October 27, 2020: TINA.org files brief as amicus curiae opposing the proposed settlement reached by the parties, as well as a Motion for Leave to file the brief.

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