The Bottom Line The Securities and Exchange Commission (SEC) settled with Kim Kardashian over allegations she violated Section 17(b) of the Securities Act (the “Act”) by publishing an Instagram post promoting the crypto-currency, EthereumMax token (EMAX), to her 250 million followers, without Continue Reading
The Wall Street Journal | Bank of America to Pay $1.84 Billion to Settle Last Major Mortgage-Crisis Suit
Joseph Cioffi was quoted in The Wall Street Journal "Bank of America to Pay $1.84 Billion to Settle Last Major Mortgage-Crisis Suit." Continue Reading
AdExchanger | Do Huge FTC Fines Signal a Huge Increase in Enforcement?
If the Federal Trade Commission (FTC) were a private business, it would be having a very good quarter. The FTC recently agreed to a $700 million settlement with Equifax over its massive 2017 data security breach, which exposed the personal information of nearly 150 million people. And now the Continue Reading
Amazon, FTC Withdraw Appeal of Decision Holding Amazon Liable for Billing Parents for Children’s Unauthorized In-App Charges
The Bottom Line The district court's decision, no longer subject to appeal, is a clear statement that the unauthorized billing of parents for in-app purchases made by their children without informed parental consent violates the FTC Act. This case serves as a reminder that companies need to ensure Continue Reading
Staples Settles Consumer Class Action Over Deceptive Rewards Program Practices
The Bottom Line Staples has agreed to pay $2 million to end a class action filed in California federal court alleging that the company engaged in deceptive rewards program practices. In particular, the class action alleged that Staples misled consumers with respect to how (and how many) Continue Reading