Quincy Bioscience’s Prevagen

July 2020: A federal judge preliminarily approved the settlement agreement. A final fairness hearing is scheduled for November 17, 2020.

June 2020: Plaintiffs moved for preliminary approval of a settlement agreement that would provide 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 would resolve seven lawsuits: Collins, Engert, Karanthos, Racies, Spath, and Vanderwerff, as well as one state case Miloro v. Quincy Bioscience.

May 2020: The parties moved to stay this case pending approval of a nationwide class settlement. The terms of the settlement have not been disclosed.

July 2019: A class-action lawsuit was filed against Quincy Bioscience for allegedly falsely advertising that the dietary supplement Prevagen improves memory within 90 days and supports “Healthy Brain Function,” “Sharper Mind,” and “Clearer Thinking” when, according to plaintiffs, the supplement does not provide the advertised benefits. (Plaintiffs filed an amended complaint bringing similar allegations in September 2019.) (Collins et al v. Quincy Bioscience, LLC, Case No. 19-cv-22864, S.D. Fla.)

For more of TINA.org’s coverage of Prevagen, click here.

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