I had previously reported that LifeLock was negotiating to settle FTC charges that it had violated a 2010 consent order. Now it’s official. From the FTC: LifeLock will pay $100 million to settle Federal Trade Commission contempt charges that it violated the terms of a 2010 federal court order that requires the company to secure…
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Lifelock reaches tentative settlement with FTC to the tune of almost $100 million
Remember when FTC went after Lifelock for failure to comply with an earlier consent order? And remember when I quoted Lifelock’s 10-Q SEC filing that mentioned the issue but reported: As a result of those discussions, we have accrued $20,000 as of December 31, 2014 for a possible settlement with the FTC. The ultimate resolution of the matter could result…
More details on the FTC-LifeLock case
In light of the FTC’s action against LifeLock, and the latter’s response, I thought it might be interesting to post this statement from LifeLock’s 10-Q SEC filing for the period ending March 31, 2015: On March 13, 2014, we received a request from the FTC for documents and information related to our compliance with the…
FTC Takes Action Against LifeLock for Alleged Violations of 2010 Order
Whoa. The Federal Trade Commission today asserted that LifeLock violated a 2010 settlement with the agency and 35 state attorneys general by continuing to make deceptive claims about its identity theft protection services, and by failing to take steps required to protect its users’ data. In documents filed with the U.S. District Court for the District of…
LifeLock under investigation by the FTC
Well, LifeLock said they come under investigation by the FTC, and it seems they are. SeekingAlpha points us to LifeLock’s most recent 8-K, which says, in part: On March 13, 2014, LifeLock received, as expected, a request from the FTC for documents and information related to LifeLock’s compliance with the FTC Stipulated Final Judgment and…
LifeLock addresses FTC complaint; more from CEO Todd Davis
Hayley Ringle reports: My hour-long interview last week with LifeLock CEO and chairman Todd Davis covered a lot of ground in the Phoenix Business Journal’s inaugural “Inside the Reporter’s Notebook” event. But there were some extra questions I didn’t get a chance to ask, including some about a pending FTC investigation I just learned about. Davis, who co-founded the Tempe-based identity theft protection company…