Lifelock customers will receive refunds as part of a settlement with the FTC. The FTC sued Lifelock claiming it made false claims in its ads. Lifelock claimed that (1) it could prevent unauthorized changes to its customers’ addresses, (2) it monitored activity on its customers’ credit reports constantly, and (3) it could guarantee that a customer would receive a telephone call from a potential creditor before a new account was opened. the FTC said these claims were false.
Lifelock will pay $11 million to the FTC to settle the charges against the company. The FTC plans to use the money to give refunds to Lifelock’s customers. Details of the refund plan have not yet been released by the FTC. Information regarding refunds will be posted on the FTC’s website at www.ftc.gov/lifelock.
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