Dietary Supplements “Shares of GNC Holdings (GNC), a retailer of health products, were inactive in recent pre-market trade even as law firm Kessler Topaz Meltzer & Check files a class-action lawsuit.”
GNC Share’s Inactive
This post is a quick update regarding GNC.
Many of our readers have been taking these products for a long time. The first story covers the extent of the lawsuit GNC is faced with. According to the article the company is facing fraud it also alleged that GNC unlawfully sold thousands of units of products in Oregon that contained picamilon, as well as sold thousands of units of products that contained BMPEA.
The U.S. Food and Drug Administration has ruled that picamilon and BMPEA do not meet the statutory definition of a dietary ingredient. To learn more about picamilion and BMPEA read our post Do Your Supplements Contain “Picamilon or BMPEA”?
Shares of GNC Holdings (GNC), a retailer of health products, were inactive in recent pre-market trade even as law firm Kessler Topaz Meltzer & Check said it has filed a class-action lawsuit filed against the company, on behalf of purchasers of the GNC securities between Nov. 28, 2011 and Oct.28, 2015. The suit was filed in the U.S. District Court for the District of Oregon. The lawsuit accuses GNC and some of its executive officers of making false and misleading statements, and for not disclosing material adverse facts about its business, operations, and prospects. It also alleged that GNC unlawfully sold thousands of units of products in Oregon that contained piccalilli, as well as sold thousands of units of[…]
More Potential Health Issues?
The second article follows the continuing demise of GNC.
The Military Times reports, GNC has ordered its 5,000 retail stores, including those located on military bases, to stop selling products made by USPlabs. I wonder if this could be the end of the road for GNC and their fraudulent and greedy practices.
Over all the problems facing GNC is a reminder to all “Buyer Beware” definitely applies to the stuff your putting into your body. Know where your supplements are sourced and manufactured.
GNC has ordered its 5,000 retail stores, including those located on military bases, to stop selling products made by USPlabs after the Dallas-based company’s executives were charged with allegedly lying to government regulators and the public about ingredients of at least two products.
GNC officials said Nov. 19 that while the criminal charges are not related to current products on the market, they were suspending sales of all products made by UPSlabs “in the best interest of our customers.”
“While … we have no reason to believe there are any health and safety issues with respect to any USPlabs products currently sold by GNC, it is in our best interest … to suspend the sale of the company’s products pending further review,” Michael Archbold, CEO of GNC, said in a news release.
After GNC made the announcement, the Marine Corps Exchange stopped selling a reformulated version of the workout booster Jack3d, according to a spokesman from the Marine Corps Non-Appropriated Funds Business and Support Services Division.