LifeLock Pays Record $100M Fine To Settle FTC False Ad Suit

Law360, New York (December 17, 2015, 12:49 PM EST) -- Lifelock Inc. agreed Thursday to pay $100 million to settle the U.S. Federal Trade Commission’s allegations that the identity theft protection firm made bogus statements about its services and failed to safeguard customer data, the largest sum ever imposed in an FTC order enforcement action.

Under the terms of the agreement, $68 million will go to consumers who accused Lifelock in a class action of failing to follow through with its promise to alert them of potential identity theft as soon as possible, and also failing to maintain adequate security systems as required by a 2010 agreement with the FTC....

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