Novedex XT class action suit gets settlement proposal
Gaspari Nutrition, Inc. has proposed a settlement regarding allegations it made false and misleading statements about its dietary supplement, Novedex XT. The case, James Keller v. Gaspari Nutrition, Inc., was certified as a class action and is venued in the U.S. District Court for the Central District of California.
A press release from the Novedex XT Settlement Administrator published in Market Watch, “A Settlement Has Been Proposed in a Class Action Lawsuit Involving Novedex XT,” gives notice to those consumers who purchased bottles of the supplement between the Class Period of November 2, 2006, and October 3, 2011, to submit claims online or by mail postmarked by January 16, 2012.
Class members who object or who wish to opt out of the settlement, must do so by the January 16, 2012, date.
For its part, Gaspari Nutrition, Inc. denies it made any misleading claims, and the settlement does not require the company to acknowledge any wrongdoing.
A Settlement Class Member is required to submit a receipt or credit card statement indicating purchase of the product during the Class Period or sign a statement under penalty of perjury along with other information attesting to purchase of the supplement. Those who can provide receipts or credit card statements may receive $20 per bottle up to four purchases, while the latter may receive $10 per bottle purchased with a maximum of four bottles.
Any of the qualifying Settlement Class Members can choose to receive a bottle of Viridex XT, another dietary supplement from Gaspari, in lieu of cash.
Settlement Class Members can call 1-877-341-4585 or go to www.NovedexXTSettlement.com for notices, claim forms and other information regarding the lawsuit.
Information in this post gathered in association with a Los Angeles trademark lawyer
$410m settlement in lawsuit against BOA overdraft fees
A settlement in a class action lawsuit against Bank of America over its practices regarding debit card fees for overdrawn checking accounts was approved by U.S. District Court Judge Lawrence King for $410 million.
The settlement affects about 13 million Bank of America customers who incurred debit card fees of $35 per overdrawn transaction over the past 10 years. The average customer had about $300 in debit card fees over this period.
The suit concerned the bank’s practice of processing debit card transactions so that the highest dollar amount was counted first in order to could maximize the overdraft fees.
According to the Washington Post in “Judge approves $410 million settlement of lawsuit against Bank of America on overdrawn fees,” Judge King felt the settlement was fair despite objections over the average payout, the amount of the settlement, and the legal fees to be paid to the class action attorneys.
By their nature, class actions rarely result in satisfactory settlements to the average class member, but do achieve huge paydays for the attorneys. In this case, the average class member will receive $27, which is far less than what they sustained in fees and is less than a single overdraft fee of $35.
The class action attorneys will garner $123 million in legal fees. An attorney for a bank customers’ group that objected to the settlement pointed that out that Bank of America will profit regardless of the settlement since it gained about $4.5 billion in overdraft fees.
Information in this post gathered in association with a Cincinnati Criminal Lawyer.
Deadline Approaches for Bayer Rice Case
A deadline is fast approaching for rice farmers to submit claims under a $750 million settlement reached with Bayer CropScience.
According to Bloomberg Businessweek in “Deadline nears to submit claims in Bayer rice case,” eligible rice farmers must submit claims by October 10. Claimants are mostly in the states of Arkansas, Louisiana, Texas, Mississippi, and Missouri.
The settlement is from a lawsuit filed against Bayer CropScience in 2006, when Bayer announced that it had permitted an experimental strain of genetically modified rice into the food supply. It was unknown then whether genetically modified food posed health risks and the disclosure led to falling prices in the U.S. and Europe for long-grain rice.
The modifications were only to long-grain rice. Short-grain rice, which is used in sushi, and medium-grain rice, used in cereals, were unaffected.
Farmers can collect settlements based on the number of acres planted for rice from 2006 to 2010, at a rate of $310 per acre. If they were forced to plant another crop that did not pay as well as the rice crop would have yielded, they can collect as well.
A plaintiffs’ attorney stressed that Bayer has the option of cancelling the settlement if 85 percent of the eligible rice acreage does not participate in the settlement, which prompted the lawyer to urge farmers to file their claims as soon as possible.
Information in this post gathered in association with Dallas GA bankruptcy lawyers.