LifeLock Hit With Shareholder Action Over FTC Injunctions

Law360, New York (March 4, 2014, 4:40 PM EST) -- An investor on Monday filed a proposed class action against private equity-backed LifeLock Inc. in Arizona federal court, alleging it misled investors about its compliance with a Federal Trade Commission order barring it from engaging in deceptive marketing or advertising.

Dawn E. Bien claims the Tempe, Ariz.-based identity theft prevention company violated securities laws by failing to advise any of its shareholders that the FTC had launched an investigation into whether it was violating the terms of existing injunctions that barred it from the alleged misrepresentations....
To view the full article, register now.