Costco To Pay $775K To End Coconut Oil Labeling Suit

Law360, San Francisco (May 2, 2017, 4:11 PM EDT) -- Costco Wholesale Corp. has agreed to pay $775,000 to resolve allegations that its Kirkland coconut oil products misled a putative class of 1.72 million coconut oil buyers into thinking the product is "healthy and delicious,” when it’s actually mostly saturated fat, according to court documents filed in California federal court Monday.

Under the terms of the proposed deal, Costco would set up a $775,000 common fund to cover class members’ claims and settlement expenses, including notice and administration fees, incentive awards and attorneys’ fees. Costco also agreed to permanently remove the words “health” and “health benefits” from all future Kirkland Coconut...

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