Deceptive Marketing Class Actions
Private umbilical cord blood banking has become a massive for-profit industry in which individuals and families pay to store blood for potential uses in the future. Consumer protection advocates and deceptive marketing attorneys have expressed multiple concerns regarding the business practices of blood cord banks.
These private blood banks have been accused of overhyping the benefits of cord blood use, particularly with highly speculative and unproven stem cell therapies, some of which are not supported by any convincing clinical evidence. As a result, consumers and plaintiffs around the country have filed cord blood bank lawsuits, alleging misleading marketing and false advertising.
Understanding Cord Blood Banks & Stem Cell Litigation
Despite the claims of many cord blood banks and various clinics offering related stem cell therapy, many of the potential uses remain speculative, and most are unregulated and unapproved by the FDA. Lawyers have argued that future, hypothetical treatments should not be sold recklessly to consumers with bold claims that have not been widely supported by the medical community.
False and misleading claims can easily influence prospective buyers of a product, particularly when a company is manipulating common fears like potential illnesses and future possibilities of disease. Thus, some attorneys and plaintiffs have sued cord blood banks for their misleading claims of the benefits of such products, possibly violating consumer protection laws on fair advertising. These lawsuits can compensate families for the money they have spent on unproven, hypothetical treatments and can help rein in companies that engage in misleading marketing schemes.
Are Cord Blood Banks Making Misleading Claims?
One of the legal issues, according to critics of these programs, is that there are not enough cases of actual, helpful uses to justify selling these services. When parents store a newborn’s umbilical cord blood for potential future use, they spend thousands of dollars, even with risks of contamination. But there exist few potential uses despite the high cost to consumers. That is why some Attorney Generals are calling cord blood banking possibly misleading.
Lawsuits have also alleged that some cord blood banks have made exaggerated claims about the benefits of banking cord blood. Companies have marketed their services for hypothetical future cancer treatments or cures for diseases without strong enough evidence to support their bold claims.
Physicians may also be in line to receive fees for obtaining cord blood samples for banks, creating an alarming potential conflict of interest and incentive to convince consumers to sign up for these services.
There have also been concerns over the storage of large amounts of sensitive personal information like biometrics and personal health information. Data misuse and the mishandling of samples can also lead to legal action.
There are also questions of proper, effective storage, and some question the viability of using cord blood more than ten or fifteen years after collection.
If there are in fact benefits for the sake of stem cell therapies, however, experts in the field have pointed to the advancement of stem cell therapies using adult stem cells, making the idea of banking blood for many years seem unnecessary and wasteful.
The Lyon Firm is a highly-rated product liability and consumer safety law firm headquartered in Cincinnati, Ohio. We represent plaintiffs nationwide in individual claims and consumer safety class action lawsuits.
If you need consumer protection representation, contact our offices today at (513) 381-2333 for a free, confidential, no-obligation consultation.
ABOUT THE LYON FIRM
Joseph Lyon has 17 years of experience representing individuals in complex litigation matters. He has represented individuals in every state against many of the largest companies in the world.
The Firm focuses on single-event civil cases and class actions involving corporate neglect & fraud, toxic exposure, product defects & recalls, medical malpractice, and invasion of privacy.
NO COST UNLESS WE WIN
The Firm offers contingency fees, advancing all costs of the litigation, and accepting the full financial risk, allowing our clients full access to the legal system while reducing the financial stress while they focus on their healthcare and financial needs.
Contact an Experienced Consumer Fraud Attorney
Consumers have a multitude of rights and protections in the United States, but that doesn’t keep bad actors from trying to defraud customers. Those rights must be guarded and enforced, and filing a consumer fraud lawsuit is one of the most direct ways to hold such companies accountable.
Joe Lyon has represented individuals nationwide in consumer protection class action cases. These include instances of false advertising, deceptive advertising, and other forms of fraudulent marketing claims. If you need an attorney who can provide individualized attention even when taking on a large class-action lawsuit, The Lyon Firm has you covered.
Reach out to us today via our online contact form, or by calling (513) 381-2333. Your communications with us are fully confidential, and your consultation is free of charge. You can rest assured that with The Lyon Firm, the service and dedication we promise are as-advertised.