ColdMD Class Action Notice

Filed under ColdMD

On March 26, 2008, Plaintiff Salcido filed this Action on behalf of himself and all others similarly situated alleging violations of California’s Unfair Competition Law (Business & Professions Code Sections 17200 and 17500) and the Consumer Legal Remedies Act (Civil Code Section 1750). Specifically, Plaintiff alleged that Defendant made false and misleading statements in its labeling and advertising of the product ColdMD Dietary Supplement. The complaint sought damages, disgorgement of Defendant’s profits, injunctive relief, and attorneys’ fees and costs.

WHAT IS THE PURPOSE OF THE SETTLEMENT?

By agreeing to the Settlement, the parties will avoid the cost of completing the trial against each other, avoid the risk that they would lose the trial, and ultimately avoid risks involved with a subsequent trial to determine the amount of damages, if any, or subsequent appeals of either or both trials. As a result of the Settlement, Class Members will be guaranteed compensation without undue delay. During settlement negotiations, the Parties agreed to a settlement that is large enough to provide a substantial benefit to all purchasers of the Product (ColdMD Dietary Supplement) in the United States. As a result, Plaintiff intends to file a Second Amended Complaint that revises the class definition to include all purchasers of the Product in the United States. Plaintiff will seek to file the Second Amended Complaint no later than concurrently with the filing of the Settlement Agreement, and also will move for Preliminary Approval of the settlement, and later, Final Approval of the settlement. Iomedix Cold International denies any liability or wrongdoing of any kind associated with the claims alleged in the Lawsuit, and further contends that, for any purpose other than settlement, this action is not appropriate for class treatment.

FOR MORE INFORMATION…

http://www.greenclassnotice.com/coldmd

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