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Class Says Lifelock Has Troubling Bosses
Headline Legal News |
2008/04/11 07:41
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Lifelock misrepresents and deceptively advertises its "identity theft protection" service, for which it charges $110 a year, a class action claims in Middlesex County Court.
Plaintiffs claim Lifelong does not actually provide the services it offers, that its president Richard Davis dreamed up the idea "while sitting in a jail cell after having been arrested for failing to repay a $16,000 casino marker," and that Lifelock's Chief Marketing Officer and co-founder Robert Maynard is under a lifelong FTC injunction because of misleading infomercials he ran for his own "credit improvement company."
The complaint adds, "Finally, and perhaps most disturbing ... Maynard himself had engaged in the very type of identity theft his company had set out to eliminate, but stealing his own father's identity."
Plaintiffs say that whatever services Lifelock does provide its 900,000 subscribers are available elsewhere for free |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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