Week Adjourned: 1.6.12

A wrap of the week’s top class action lawsuits and settlements for the week ending January 6, 2012.

Orange, Santa Clara, Shasta, Solano and Sonoma counties, alleging the company engaged in false and misleading advertising of dietary supplements, including Accelis, nanoSLIM, Cold MD, Germ MD, EZ-Swallow Rapid-Tabs, Germ MD Effervescent Tablets, Allergy MD and Allergy MD Rapid-Tabs.

The lawsuit also alleged a violation of Proposition 65, which requires a warning label on products exposing the consumer to more than one-half microgram of lead per day. Laboratory tests revealed certain lots of the Cold MD exceeded the lead limit. Iovate stopped selling Cold MD in 2008. The lawsuit alleged Cold MD was an unapproved new drug, and thus illegal to sell under California law.

It’s Alive! Still! Ok—cast your mind back… to a consumer banking lawsuit filed a while ago now—as in years—against seven institutions, specifically Bank of America, Capital One, Chase, HSBC National Arbitration Forum, Inc.(NAF), Citibank and Discover.

The issue? Claims that they violated federal law by conspiring, with each other and certain non-defendants, to require that their cardholders (a) take all legal disputes to arbitration rather than court and (b) give up any right to participate in class actions against the above six credit card companies.

This week, a preliminary settlement was announced between the plaintiffs and NAF, and is subject to final approval by the Court. This is the fifth settlement in this lawsuit. Previously, on July 26, 2010, the Court entered Final Judgment for settlements reached with four of the seven defendants–Bank of America, Capital One, Chase and HSBC–in Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.).

If you are affected by this potential settlement, you can find out more here.

FYI—The deadline for submitting an objection to the settlement with NAF is March 16, 2012. The date of the hearing for final approval of the NAF settlement is April 27, 2012.

Ok—That’s a wrap for this week. See you in 2012!

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