If you bought Ginkgold® Ginkgo Biloba Extract, you could get reimbursed from a class action settlement.
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Important Update: The Court granted final approval of the Settlement on January 25, 2021.
You may read a copy of the Court’s Order here.
What is this lawsuit about?
The lawsuit alleges that Schwabe North America, Inc. ("Schwabe") and Nature’s Way Products, LLC ("Nature's Way") falsely advertised Ginkgold® and Ginkgold Max® as providing cognitive health benefits they do not actually provide. The Plaintiff brought claims against the Defendants, Schwabe and Nature's Way, for violation of consumer protection laws. The Defendants deny they have done anything wrong, and believe the litigation is without merit because each and every cognitive benefit claim is substantiated by science. However, to avoid the cost of litigation, its associated burden, and potential risks for both sides, the Parties have reached a Settlement, which was preliminarily approved by the Court on October 1, 2020.The Court granted final approval of the Settlement on January 25, 2021.
Who is included in the Class?
You are a Settlement Class Member and part of the settlement if you purchased Ginkgold or Ginkgold Max for personal use in California from July 7, 2011 to October 1, 2020, or anywhere else in the United States from January 1, 2016 to October 1, 2020.
What are the possible benefits of this settlement?
If you are a Settlement Class Member and submitted a claim, Defendants will reimburse you for your purchases of Ginkgold and Ginkgold Max. If you have proof of purchase, you will be reimbursed for purchases of Ginkgold and Ginkgold Max you made in the applicable Class Period. If you do not have proof of purchase, you will be reimbursed for up to three purchases. Reimbursement is based on a blended average retail price of the Ginkgold or Ginkgold Max products purchased up to $18 or $33, depending on the product version purchased. The payment of valid claims may be increased or decreased on a pro rata basis depending on the total value of the claims made.