Letitia James Wins Trial Against Quincy Bioscience for Deceptive and Fraudulent Advertising of Prevagen
NEW YORK – New York Attorney General Letitia James today announced that a federal judge in Manhattan accepted a jury’s finding that Quincy Bioscience Holding Company, Inc., Quincy Bioscience, LLC, Prevagen, Inc., Quincy Bioscience Manufacturing, LLC (Quincy), and four corporate defendants made fraudulent and deceptive statements about the supplement Prevagen and are liable for violating New York’s consumer protection laws. Quincy advertised its supplement, Prevagen, in media markets across New York, including in Albany, Syracuse, New York City, and the Southern Tier, as a way to reduce memory problems, improve memory, and support cognitive health. After a two-week trial, the jury concluded that Quincy had not substantiated any of its claims about Prevagen with reliable scientific evidence. The jury found some of Quincy’s claims about Prevagen to be materially misleading and all of them to have the tendency to deceive and constitute fraud under New York Executive Law Section 63(12). With the court’s acceptance of the jury’s verdict, the Office of the Attorney General (OAG) will seek a permanent injunction to block Quincy from continuing to make deceptive statements when selling its product in New York and will seek monetary relief.
“New York laws are clear: companies and individuals cannot lie and manipulate consumers,” said Attorney General James. “Quincy took advantage of the very real fear of cognitive decline and preyed on elderly New Yorkers to make a profit. Consumers bought Prevagen with the hopes that they could improve their cognitive health. My office will always use every tool and resource at our disposal to protect New Yorkers and uphold the rule of law. I will not allow modern day ‘snake oil salespeople’ to operate in New York.”
Prevagen, which can cost up to $89.95 for a 30-day supply and purports to help improve memory, is sold online directly to consumers and at major retailers and pharmacies across the country, including CVS, Walgreens, Rite-Aid, Walmart, GNC, and Amazon. The OAG took action and brought a lawsuit asserting that Quincy did not have adequate scientific evidence to substantiate claims about Prevagen, including that it improves memory, improves memory within 90 days, reduces memory problems associated with aging, provides other cognitive benefits, including a healthy brain function, a sharper mind, and clearer thinking, and has been “clinically shown” to do each of these things. Quincy has been marketing Prevagen with variations of these claims on its packaging since at least 2011 and in its national television and radio ads since 2013.
https://ag.ny.gov/press-release/2024/attorney-general-james-wins-trial-against-quincy-bioscience-deceptive-and
Seems like Prevagen commercials are saturating the airwaves these days.