Hi-Tech Pharmacal Co. has settled a class-action lawsuit alleging misleading advertising for its allergy reliever Nasal Ease, an executive confirmed Monday.
Chief financial officer William Peters said the Amityville-based drugmaker has set aside $700,000 to pay refunds, attorney’s fees and other costs.
Peters said that Hi-Tech stands by the ads and denies wrongdoing. He also said the settlement was reached before the company agreed in August to be purchased by Akorn Inc. for $640 million.
CPT Group Inc., which administers legal settlements, said consumers who purchased Nasal Ease for personal use between April 1, 2010 and Feb. 25, 2014 and were living in the United States may be eligible for a refund.
More information can be found at nasaleasesettlement.com.