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News Breaks | | | | September 10, 2012 | | 15:44 EDT |  | MED | Medifast says agreed to modify weight loss claim to avoid protracted FTC battle
Medifast announced in response to the Federal Trade Commission's resolution of its non-public investigation of certain statements in the company's advertising for its weight-loss programs: "The FTC's allegations suggested that the testing we conducted did not substantiate certain claims used in the advertising of our Medifast line of products. While Medifast disagreed with this interpretation due to our extensive research data, the Company is pleased that the parties reached an agreement on claim language and a protocol for future research to avoid further legal proceedings. More specifically, in line with the FTC's recently published consumer research, the FTC objected to the Company's use of the words 'up to' in conjunction with advertised weight loss claims of 2-5 lbs. per week. To avoid a protracted legal battle, Medifast has agreed to modify its weight loss claim to 'lose 2-5 lbs. per week for the first 2 weeks and 1-2 lbs. per week thereafter.' This clarification is consistent with our prior and ongoing clinical studies...we stand behind our weight loss claims and remain committed to fairly providing consumers with as much information as possible." | |
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| May 20, 2013 | | 16:50 EDT | | MED | Visium Asset Management reports 6.8% passive stake in Medifast
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