Traditional recipes

Naked Juice to Pay Out in $9 Million Class Action Lawsuit

Naked Juice to Pay Out in $9 Million Class Action Lawsuit

We are searching data for your request:

Forums and discussions:
Manuals and reference books:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

If you bought a Naked Juice in the last 6 years, you could be entitled to some money

Any consumer who bought a Naked Juice between Sept. 27, 2007 and Aug. 17, 2013 could receive up to $75 from the settlement with proof of purchase.

Well, there is a slight positive side to the lawsuit that's been swirling around Naked Juice since 2010: if you bought a Naked Juice between Sept. 17, 2013, you could be entitled to a (small) chunk of Naked Juice's $9 million settlment.

The Huffington Post reports that a new website for the class action suit has been built, in order to give back to consumers who took Naked Juice's health claims — like "100% Juice" or "All Natural Fruit" — to be true. That means any consumer who bought a Naked Juice in that time frame could receive up to $75 from the settlement with proof of purchase (those without proof could get up to $45).

PepsiCo, the parent company, is still fighting back on the lawsuit, and plans to keep using the "non-GMO" label. The company says that the juice does in fact use non-GMO ingredients; however, the lawsuit alleges that the juices contain genetically modified soy.

Business Ethics Case Analyses

Kantianism states that businesses should always work within the rules, never consider themselves exempt from those rules, and help consumers make well informed choices for the good of everyone. This intrinsic value system to allow people to make rational, autonomous decisions is the cornerstone for this theory. PepsiCo had deliberately labeled their Naked Juice products as all natural to persuade consumers to choose that drink over other competing juice products. The all natural label worked to bring in consumers that were worried about making healthy drink choices but the questionable ingredients and their discrete inclusion in the Naked Juice products works to misinform the consumer. Under Kantianism PepsiCo makes an unethical choice in choosing the all natural label because of their use of some synthetic ingredients. The settlement shows that PepsiCo thought that they would be able to skirt by with the loose definition of "all natural", but when eventually called out for it they would rather pay up than go through a lengthy judicial process.

Virtue Theory

Donald M. Kendall, one of three founders of PepsiCo.

Virtue Theory uses four cornerstone characteristics: courage, honesty, self-control, and fairness. Courage marks a company's willingness to take chances and stand up for what is right. Honesty marks a company's truthfulness with their business actions. Self-control refers to a company's ability to create reasonable expectations and live up to those expectations. Fairness refers to a company's hard work and fair practice. PepsiCo definitely took a chance in labeling Naked Juice as "all natural" but when brought up to the lawsuit, they decided to drop the "all natural" label in favor for a "non-GMO" label. Yet PepsiCo was considerably truthful in their explanation for dropping the "all natural" label: "In some products, we also include an added boost of vitamins. Naked juice and smoothies will continue to be labeled 'non-GMO,' and until there is more detailed regulatory guidance around the word 'natural' -- we've chosen not to use 'All Natural' on our packaging." This is a fair explanation behind the use of the label and the lack of FDA definition for what a natural product is. As far as self-control goes PepsiCo failed to live up to the "all natural" expectations when some synthetic ingredients were found in their Naked Juice products. As far as Virtue Theory goes PepsiCo did good in how they handled the s ituation once synthetic ingredients were found but their use of the "all natural" label from the beginning was dubious.

Conclusion Overall PepsiCo acted fair in their response but rather unethically in trying to use the all natural label when such a flimsy guideline was in place. By using this label they tried to create profits using an expectation of natural ingredients despite the existence of synthetic additives in their Naked Juice products. While not outright unethical it is rather dubious for PepsiCo to try to pass it off as all natural but in the end "non-GMO" may be the better label to accurately represent the drinks.


Kim, Susanna. "Naked Juice Class Action Settlement Offers Up to $75 Per Consumer."ABC News. ABC News Network, 27 Aug. 2013. Web. 13 Mar. 2014.

Naked Juice to Pay $9M Settlement Over 'All Natural' Claims

Naked Juice has settled a class action claim for more than $9 million, in an attempt to put to rest the legal battle over its "All Natural" claims.

Naked Juice, owned by PepsiCo, still denies that its labels were false or misleading. But the company has agreed to redesign its labels and to stop describing its juices as "all natural," reports LA Weekly.

This isn't the first time a food or drink manufacturer has hit a wall with the word "natural," but perhaps this case will prompt the FDA to move on the issue.

Misleading Drink Labels?

The subject of the now-settled lawsuit was a claim by Naked Juice that its stripped-down fruit juices were "all natural," despite the fact that they contained:

  • Fibersol-2 (soluble corn fiber),
  • Fructooligosaccarides (fruit sugar-based alternative sweeteners),
  • Inulin (soluble fiber), and
  • Genetically modified soy.

The Food and Drug Administration (FDA) has authority over terms like "natural" and "organic," and although the agency hasn't legally defined "natural," it generally objects to the term being used when artificial or synthetic additives are included in a product.

Reacting to customer complaints about misleading products, the FDA often steps in and warns the manufacturer "of the violation of law" and compels them to fix the problem.

'Natural' is Hard to Define

A spokesman for Naked Juice's parent company added that without "more detailed regulatory guidance around the word 'natural'," the company will not continue to use the term, reports

Part of the problem lies in the difficulty of defining "natural" in any product that has been processed, as many products like milk and even fruit juice must undergo pasteurization to be considered safe from E. coli and other food contaminants.

Unlike the movie "The Natural," which contains very little juice but a heaping helping of Robert Redford, Naked Juice has given up the N-word until the FDA can craft a decent definition.

Settlement Money

As a part of the settlement agreement, Naked Juice will pay out portions of its pledged $9 million to the class of plaintiffs who opted-in to the class action settlement.

In addition to removing "all natural" from labels, Naked Juice pledged to hire experts to scientifically verify that its non-GMO claims are at least up to code with European standards, reports

Until then, Naked Juice fans will just have to assume that what is inside the bottle is probably at least natural-ish.

Naked Juice Class Action Lawsuit Settlement Over Health Claims Means $9 Million For Consumers

If you purchased a Naked Juice product between Sept. 27, 2007 and Aug. 19, 2013, listen up. As part of a class action lawsuit over the brand's alleged misuse of health phrases, which parent company PepsiCo settled for $9 million, you may be entitled to a fistful of cash.

The website for the settlement,, explains that the lawsuit took issue with Naked Juice's use of phrases like "100% Juice," "100% Fruit," "From Concentrate," "All Natural," "All Natural Fruit," "All Natural Fruit + Boosts" and "Non-GMO."

"The lawsuit claims that the [Naked Juice products] contain ingredients that are not "All Natural" and contain GMOs (or Genetically Modified Organisms)," reads the site. Some products are made with genetically altered soy, the lawsuit alleges.

PepsiCo refutes these claims, but agreed to a settlement that doles out up to $75 to Naked Juice consumers who can provide proof of purchase and up to $45 to those who can't. Interested parties can file a claim here.

In a statement posted to Facebook, Naked Juice stands by its "all natural" claims but admitted it will no longer use the phrase on packaging:

The ‘all natural’ claim on our label described the fruits and vegetables in the bottle—not the vitamin boosts added to some Naked beverages. Naked juice and smoothies will continue to be labeled "non-GMO," and until there is more detailed regulatory guidance around the word “natural” —we’ve chosen not to use “All Natural” on our packaging.

Naked Juice products will continue to bear a "non-GMO" label, although PepsiCo plans to hire a third-party expert to confirm its non-GMO status.

PepsiCo misleads buyers of Naked juice: lawsuit

(Reuters) - PepsiCo Inc PEP.N has been accused in a lawsuit of misleading shoppers into believing its Naked juices and smoothies primarily contain "high-value" ingredients such as kale, when the main ingredient is often cheaper, less nutritious apple juice.

According to a complaint filed on Tuesday in the Brooklyn, New York federal court, PepsiCo emblazons healthy fruits and vegetables on Naked labels, and touts how the drinks have “no sugar added,” when they actually contain roughly as much sugar as a can of Pepsi.

In a statement, PepsiCo called the lawsuit “baseless,” and said there was nothing misleading about its Naked products.

The lawsuit was filed by the Center for Science in the Public Interest, a Washington, D.C.-based nonprofit group, on behalf of three shoppers.

Dina Lipkind of Brooklyn, Lyle Takeshita of Los Angeles and Chad Fenwick of Chatsworth, California claim they overpaid for Naked drinks such as Kale Blazer and Green Machine.

The label for Kale Blazer, for example, promises a “royal roundtable of yum” from its blend of kale with “cucumber, spinach, celery and a pinch of ginger, the complaint said.

But according to the label, kale puree is only the second listed ingredient, between orange juice and apple juice, and a 15.2 ounce serving contains 34 grams of sugar.

Other Naked drinks contain as much as 61 grams of sugar, the complaint said. In contrast, a 12-ounce Pepsi contains 41 grams.

PepsiCo “deliberately cultivates” consumer misperceptions through its marketing of Naked drinks, the complaint said.

The lawsuit seeks class-action status on behalf of shoppers nationwide and in New York and California. It also seeks unspecified damages.

PepsiCo, in its statement, said every Naked bottle identifies the fruits and vegetables it contains, and the sugar content is “clearly reflected” on the label.

In 2013, the Purchase, New York-based company agreed to stop calling Naked juices “all natural” as part of a $9 million settlement.

Pepsi Forks Over $9 Million Settlement, Agrees to Stop Calling Naked Juice 'Natural'

For related articles and more information, please visit OCA's The Myth of Natural page.

The Pepsi-owned Naked Juice brand will soon be getting a labeling makeover following a lawsuit that challenged the processed food giant's indiscriminate and deceptive use of the word "natural." According to new reports, PepsiCo has not only agreed to pay out a $9 million settlement as part of the case, but has also relented from labeling its juice products as "all natural," pending further clarification by the U.S. Food and Drug Administration (FDA) on the appropriate use of this widely-misunderstood term.

Back in 2011, plaintiffs filed a class-action lawsuit against Pepsi for labeling Naked Juice as being "all natural," despite the fact that many of the products in this brand category contain added synthetic vitamins and other questionable ingredients. According to the Associated Press (AP), plaintiffs had accused Pepsi of even adding a synthetic fiber material made by Big Ag corporation Archer Daniels Midland (ADM) into some types of Naked Juice, an allegation that Pepsi ultimately did not deny.

The case, known as Natalie Pappas v. Naked Juice Co. of Glendora , took particular issue with added ingredients in Naked Juice like zinc oxide, ascorbic acid, and calcium pantothenate, the latter of which is made from formaldehyde, a carcinogenic compound. These and other questionable ingredients, claimed Pappas and others, hardly represent "the freshest, purest stuff in the world," a marketing catchphrase widely used in connection with Naked Juice products.

Besides this, Pappas also accused Pepsi of deceptively using genetically-modified organisms (GMOs) in Naked Juice products, despite the fact that they are all labeled as not containing GMOs. Pepsi reportedly denied this claim, insisting that no GMOs are used to produce Naked Juice. The company soon plans to have a third-party certifying group like the Non-GMO Project verify that Naked Juice products are GMO-free in order to quell growing fears about hidden transgenic additives.

Pepsi's Naked Juice Agrees To Pay In Lawsuit Over 'All Natural' Labels

Naked Juice, the fruit and vegetable drink maker, agreed to a $9 million settlement in a class action lawsuit, LA Weekly reports.

The plaintiffs had accused the company of falsely labeling some of its juices as "all natural."

Naked Juice, which is owned by PepsiCo., denied that its labels were misleading or false, but agreed to stop using the term "all natural" on its juices, LA Weekly wrote.

It also agreed to hire an independent tester to confirm the accuracy of "non-GMO" (genetically modified organism) labels on the drinks.

Some patrons took to social media over the company's labeling. Here is one Naked Juice response to a Facebook commenter regarding GMOs:

More From Business Insider

U.S. Cases Halve in a Month Singapore Shuts Malls: Virus Update

Australia expects 2 million doses a week of Pfizer's COVID-19 vaccine from October - SMH

UPDATE 3-U.S. CDC looking into heart inflammation in some young vaccine recipients

Bubble Risks Test China’s Commitment to No Sharp Turn in Policy

U.S. administers 283.9 mln doses of COVID-19 vaccines -CDC

SEC approves Nasdaq proposal to allow IPO alternative to raise funds

In a filing dated May 19, the SEC said Nasdaq's proposed rule change was consistent with the regulator's rules and regulations and could be beneficial to investors as an alternative to a traditional initial public offering. The move is a big breakthrough for the exchange operator that has been pushing for an alternative for companies to raise money. Reuters had reported in August that Nasdaq had filed with the SEC to change its rules to enable companies that debut on the stock market through a direct listing to raise capital.

How Dovish Monetary Policy Affects Interest Rates

The U.S. central bank, known as the Federal Reserve, has a dual mandate of managing inflation and promoting full employment. When Fed officials are said to be “dovish,” it means they are more interested in promoting job creation than in … Continue reading → The post How Dovish Monetary Policy Affects Interest Rates appeared first on SmartAsset Blog.

AdPlace A Bag On Your Car Mirror When Traveling

Brilliant Car Cleaning Hacks Local Dealers Wish You Didn’t Know

Why Nvidia Stock Jumped After Announcement Of Four-For-One Split?

The stock is trying to settle above the $600 level.

Why Do I Owe State Taxes?

Filing taxes may not be your favorite financial chore but it is a necessary one to stay in the good graces of the IRS. Why do I owe state taxes is a question you might have if filing your return … Continue reading → The post Why Do I Owe State Taxes? appeared first on SmartAsset Blog.

Nvidia Gains on 4:1 Stock Split Amid Chip Shortage

Investors shun tech, rush for inflation protection - BofA

LONDON (Reuters) -Investors pumped money into inflation protection and dumped some tech stocks, BofA's weekly fund flow data showed on Friday, as U.S. Federal Reserve policymakers hinted at discussing tapering of government bond purchases "at some point". Gold funds attracted $1.3 billion, BofA said. Tech stocks are particularly sensitive to rising interest rate expectations because their value rests heavily on future earnings, which are discounted more deeply when rates go up.

Nvidia sets 4-for-1 stock split, shares rise

The company's stock, which was last up at over $600 in premarket trading, has gained nearly 12% this year after its value more than doubled in 2020. Stock splits can potentially attract retail investors who make small trades. Santa Clara, California-based Nvidia said stock holders of record on July 21 would receive dividend of three additional shares after the close of trading on July 19, with the stock trading on a split-adjusted basis beginning July 20.

Crypto Hedge Funds Buy the Dip in Bitcoin’s Week of Reckoning

(Bloomberg) -- Felix Dian is in fighting spirits after this week’s crypto meltdown.Like many pros, the former Morgan Stanley trader says Bitcoin’s volatility actually shows why hedge funds are in the digital-currency game: To ride boom and bust cycles with diversified bets so clients don’t get killed at times like this.Something is working. His $80 million crypto-focused fund at MVPQ Capital is up 14% in May and has more than tripled in value this year. In contrast, Bitcoin has plunged almost 30% this month, cutting the advance for 2021 to 42%.“We had kept dry powder,” he said in an interview from London. He took advantage of Wednesday’s price collapse and bought Bitcoin when it was trading around $35,000.Crypto-Crash Autopsy Shows Billions Erased in Flash LiquidationsNot everyone’s been so lucky. Scores have seen their fortunes dashed this week in a cascade of selling across crypto markets. Investors spent some $410 billion buying up Bitcoin during this bull market, according to data from Chainalysis. When prices sank to $36,000 this week, $300 billion of those positions were at a loss.It’s left money managers wrestling with whether the digital currency, which is coming under new regulatory scrutiny in the U.S. and China, still has the makings of a serious asset class or will remain nothing more than a speculative bubble.Bitcoin hovered around $40,000 on Friday, trading up 1% as of 7:15 a.m. in New York. The token has lost 35% since hitting an all-time high of $63,000 in April.Charles Erith, who worked for 24 years in Asian emerging markets before jumping to crypto, said the speculative froth was flushed out this week. He bought Bitcoin as prices were plunging.“At $35,000, we felt it’s a reasonable level at which to be adding,” said Erith, who runs ByteTree Asset Management in London. “It’s obviously not regulated and it’s a very young asset, but I don’t think this is going to be a revisit of 2018.”Data from research firm Chainalysis shows professional investors used the crash as an opportunity to start buying at cheap levels, helping put a floor under the market. Big investors bought 34,000 Bitcoin on Tuesday and Wednesday after reducing holdings by as much as 51,000 bitcoin in the last two weeks, according to data from Chainalysis.“People that were borrowing money to invest, they were wiped from the system,” said Kyle Davies, co-founder at Three Arrows Capital in Singapore. His firm bought more Bitcoin and Ether as prices of the tokens tumbled this week.“Every time we see massive liquidation is a chance to buy,” he added. “I wouldn’t be surprised if Bitcoin and Ethereum retrace the entire drop in a week.”Over in Paris, Loan Venkatapen, founder of Blocklabs Capital Management, blames the recent rout on over-leveraged retail investors but says blockchain and the related technologies “are here to stay.”Unlike Davies, Venkatapen avoided Bitcoin, but bought Ether, Solana and other assets connected with the decentralized finance movement as they sold off.“Bitcoin is not dying, but we expect productive blockchain assets such as Ethereum or Solana to challenge Bitcoin dominance in the coming months,” he said.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Daimler Disagrees With Tesla and VW’s Batteries-or-Bust View

(Bloomberg) -- Daimler AG’s truck chief expects hydrogen-powered big rigs to play an important role in slashing emissions from the transportation sector despite the technological hurdles and skepticism raised by two prominent rivals.Focusing solely on battery-electric vehicles would be risky because of the scarcity of certain raw materials and challenges grids will have supporting wide-ranging charging networks for trucks and buses, Martin Daum, Daimler Truck’s chief executive officer, said in a phone interview.“We cannot afford to bank on just one technology to reach the climate goals,” Daum said. “The focus until 2025 will be 100% on battery-electric vehicles. Between 2025 and 2035, we’re going to need both battery-electric and fuel cell vehicles because the massively growing infrastructure requirements require a two-legged approach.”Fuel cells, which generate electricity from hydrogen and therefore eliminate the need to recharge batteries, have been touted for years as a potential alternative to combustion engines. But high costs and sparse fueling infrastructure have stood in the way of broader adoption and left the technology far behind battery-electric powertrains in the passenger-car market.Electrifying commercial vehicles is more complex -- they’re larger, heavier and used for everything from deliveries to supermarkets in urban areas to long-haul transport in remote areas. Daimler recently formed a joint venture with rival Volvo AB to jointly develop fuel cell stacks.Daimler’s DetractorsWhile prominent industry leaders including Tesla Inc.’s Elon Musk and Volkswagen AG’s Herbert Diess have repeatedly criticized fuel cells and argued battery power is the only way forward, Daimler and Volvo aren’t alone in seeing long-term potential.“Decarbonization of the energy mix represents the most profound shift in energy since the start of the industrial revolution,” Sanford Bernstein analysts led by Neil Beveridge said in a note to clients. “It is simply impossible to reach net zero by 2050 without hydrogen playing a major role.”Daimler’s truck division is the world’s largest maker of commercial vehicles and on track to be spun off from the Mercedes-Benz luxury-car operations this year. The split reflects the diverging technology trends between passenger cars and commercial vehicles. Both will need enormous investment in new technology to comply with stricter emissions standards.Daum, 61, mapped out more aggressive profitability targets on Thursday and objectives to generate the funds needed to navigate the industry’s transformation.“We want to be a resilient company that can avoid losses even in difficult years,” he said. The unit plans to list at the Frankfurt stock exchange later this year and could enter the country’s blue-chip DAX Index.Global PresenceDaimler boasts a truly global footprint that’s unique among commercial-vehicle manufacturers. While Volvo just trimmed its presence in Asia by selling its UD Trucks business in Japan, VW’s Traton SE unit is finishing its takeover of U.S. truckmaker Navistar International Corp. next quarter.Apart from Mercedes trucks, Daimler’s trucks and buses division comprises Fuso in Japan, BharatBenz in India, Setra in Germany and Freightliner, Thomas Built and Western Star in North America.The company has relied heavily on profits from Freightliner in recent years, as North America tends to generate much of the industry’s earnings. Executives said Thursday that boosting profitability at European operations will be a top priority and pledged to reduce personnel and material costs to become more competitive in the region.Asked whether Daimler may consider an acquisition of CNH Industrial NV’s Italian business Iveco, Daum said his focus is on the company’s own operations. “I don’t see the need for us to add an asset to our European business,” he said. “There are no plans for any structural changes.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Wealth Fund That Quadrupled Profit Now Pivots With Bet on Europe

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.One of Africa’s largest sovereign wealth funds rode the wave of U.S. technology stocks to a banner 2020. Now, it’s betting Europe will play catch-up.The Nigerian Sovereign Investment Authority, fresh off a 51% surge in assets that took the fund above $2 billion, is boosting its exposure to European stocks and will add some Japanese equities, Chief Executive Officer Uche Orji said in an interview. The Goldman Sachs Group Inc. alumnus sees opportunity as Europe begins to open up from Covid lockdowns.“Last year, Europe underperformed America big time” as investors moved funds to technology companies profiting from the shift to online services at the onset of the coronavirus pandemic, Orji said. As the global economy reopens, countries with broader industrial bases and services such as Europe “will become more interesting,” he said.The Euro Stoxx 50 equity benchmark has climbed almost 11% this year, buoyed by expectations of a rapid recovery as vaccinations against the coronavirus progress while fiscal and monetary policies across the region remain loose. It’s outperformed both the S&P 500 Index and MSCI All Countries World Index, which have risen 9.6% and 7.5% respectively in the year-to-date.Expanding FootprintThe NSIA has $2.1 billion of assets under management. About a third of that amount is held by its Future Generations Fund, which buys equities in developed and emerging markets. The authority had 25% of the FGF invested in stocks last year, with the “bulk” in the U.S., while European stocks accounted for less than 4%, Orji said.“We are just going to add more capital to expand our footprints in Europe and Japan, but Europe in particular is an area where we have not had a big presence,” he said.Orji, 51, has more than two decades of experience in international banking, with an MBA from Harvard Business School. Prior to his appointment as CEO of the NSIA in 2012, he’s had stints at Goldman Sachs Asset Management LP, JPMorgan Chase & Co. and UBS Securities.The NSIA reported a four-fold increase in profit last year to 160 billion naira ($390 million). Returns this year will likely trail 2020 as a rally in global equities eases up and as it invests in infrastructure projects that can take longer to generate income, Orji said.The authority plans to establish a $200 million fund that builds health-care facilities to treat diseases including cancer and orthopedics. Africa’s most populous country has for decades lacked adequate investment in health care, prompting citizens including President Muhammadu Buhari to seek treatment abroad.The NSIA plans to finance the health-care projects with co-investors, Orji said, without providing more details.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

CANADA FX DEBT-Canadian dollar nears 6-year high as inflation concerns ease

* Canadian dollar strengthens 0.2% against the greenback * For the week, the loonie is on track to gain 0.6% * Canadian retail sales rise 3.6% in March * Price of U.S. oil rises 1.9% TORONTO, May 21 (Reuters) - The Canadian dollar rose against its U.S. counterpart on Friday as investor worries about U.S. inflation receded and domestic data showed retail sales climbing in March, with the loonie moving closer to a six-year high notched earlier in the week. Canadian retail sales rose 3.6% in March from February, surpassing estimates for a 2.3% increase, data from Statistics Canada showed. World stock markets edged higher after a volatile week, taking their lead from a stronger Wall Street as U.S. business activity data tempered inflation fears.

Nvidia Shares Jump After Announcing 4-for-1 Stock Split

(Bloomberg) -- Nvidia Corp. shares jumped Friday after the graphics-chipmaker said it would split its shares 4-for-1 in an effort to make them more accessible to investors and employees.The split, in the form of a stock dividend, is subject to shareholder approval at the Santa Clara, California-based company’s annual meeting on June 3, Nvidia said in a statement Friday. The move, if approved, would increase the common stock to 4 billion shares. The shares jumped 3.1% as trading got underway in New York Friday.Currently Nvidia has about 622.4 million shares outstanding, valuing the company at $363.8 billion, based on Thursday’s closing share price of $584.50. The stock has gained 12% so far this year.If shareholders approve the plan, each Nvidia stockholder of record on June 21 will receive a dividend of three additional shares of common stock for every share held, to be distributed after the close of trading on July 19. Trading is expected to begin on a stock split-adjusted basis on July 20.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Hong Kong to restrict crypto exchanges to professional investors

HONG KONG (Reuters) -Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday. Investor protection and preventing money laundering are particular concerns. Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest.

Market Wrap: China Breaks Crypto as Bitcoin Falls to $36K, ETH Drops $300 in Two Hours

Within two hours of the State Council statement, BTC fell 11%, based on CoinDesk 20 data.

Naked Juice to Pay Out in $9 Million Class Action Lawsuit - Recipes

Naked Juice’s misleading labels have been stripped naked by the law!

PepsiCo subsidiary, Naked Juice Co. has agreed to pay $9 million to settle a class-action suit alleging that it falsely advertised some of its juice and smoothie products as “all natural” and non-genetically modified.

Naked Juice denied that its product labels were misleading or false, but will now be required to establish a $9m settlement fund. Under the proposed agreement, consumers will each be eligible to recover a maximum of $45.

In addition, Naked Juice has also stated that it will stop using ‘all natural’ to describe its products and will hire an independent tester to confirm the accuracy of its labels “non-GMO” claims.

Naked Juice blamed the labeling confusion on the Government, saying there’s not enough “guidance” as to what can be called “natural.”

“Until there is more detailed regulatory guidance around the word ‘natural,’ we’ve chosen not to use ‘all natural’ to describe our juices and smoothies,” the company told

According to LA Weekly, Naked Juice was first targeted in five separate class actions in 2011 that were consolidated in the Central District of California the following year.

The complaint alleged that the company deceptively advertised some of its products — including its Acai Machine, Protein Zone and Mango Veggie juices — by using the all natural and non-GMO claims on their labels even though the products contained unnaturally processed and synthetic ingredients as well as ingredients derived from genetically modified crops.

The complaint also alleged that the products were labeled as containing certain vitamins and nutrients when they actually contained chemically distinct vitamin substitutes.

According to the Food and Drug Administration’s website: “From a food science perspective, it is difficult to define a food product that is ‘natural’ because the food has probably been processed and is no longer the product of the earth. That said, FDA has not developed a definition for use of the term natural or its derivatives. However, the agency has not objected to the use of the term if the food does not contain added color, artificial flavors, or synthetic substances.”

PepsiCo recently settled on a $9 million class action lawsuit involving its Naked juice brand, which made false “all natural” claims despite its use of GMO and synthetic ingredients. Here’s How to Get Your Money Back | News |

A month ago we were not so shocked when Naked Juice admitted its products are not so natural in a $9 million lawsuit.

The PepsiCo-owned company admitted to hiding GMO and synthetic ingredients in its products, despite advertising “all natural” directly on the bottles.

Now, as part of the multimillion-dollar settlement, PepsiCo will pay at least $45 to each person who has purchased a Naked Juice product—even with no proof of purchase. Those who have a receipt will receive a cash payment of $75.

See Also

The PepsiCo brand joins several others involved in lawsuits concerning deceptive health claims.

All purchases must have been made between September 27, 2007, and August 19, 2013—and all you have to do is fill out this Naked Juice Class claim form. A settlement administrator will review it and determine whether you qualify for the reimbursement. (And if by November 11 you change your mind and want out of the settlement, just send in another written request to exclude yourself.)

PepsiCo will pay consumers up to $9 million total. Any funds remaining will be given to nonprofit organizations, including Mayo Clinic and various organizations in California, Boston, Chicago, Texas, and Florida.

For more information, visit the class action’s website for a lengthy description of the claims process and a list of the eligible products.

Naked Juice Class Action Lawsuit: How to Claim Your $45 Without Proof of Purchase

After Naked Juice was sued in 2011 for deceptively labeling its products and accused of using GMOs in its ingredients, the company settled for $9 million, leaving consumers the option to claim up to $45 without any proof of purchase.

If you purchased a Naked Juice product between September 27, 2007, and August 19, 2013, you are entitled to receive some compensation from Naked Juice's parent company, PepsiCo, for being deceived. To file your claim, you must go to the Naked Juice class action settlement website and fill out an online form and they (supposedly) will mail you a check.

You must provide some identifying information, but nothing too intrusive. The process is pretty simple: all you need to do is provide your name, address and specify whether you want $75 or $45.

If you choose the $75 option, then you at least must provide proof of purchase such as a receipt. However, if you choose $45, then no proof of purchase is required. With this option, all you need to do is specify how much money you think you spent on Naked Juice products, regardless of whether it exceeds the claim amount. The deadline for the claim is December 17, 2013.

Watch the video: Naked Juice: $9MILLION CLASS ACTION LAWSUIT! (May 2022).