On March 9, 2010, the Federal Trade Commission announced that LifeLock, Inc., has agreed to pay $12 million to settle charges of deceptive advertising related to its identity theft protection services. The FTC and the attorneys general of 35 states obtained the coordinated settlement pursuant to charges that LifeLock made false representations regarding the effectiveness of the protection its services offer consumers. The FTC alleged that, contrary to assertions made in LifeLock’s advertisements, its products provide no protection from the most common form of identity theft, and only limited protection against other types of fraud.
The FTC’s complaint and further details concerning the settlement are available on theFTC’s website. The FTC also has posted a page to provide information on the redress program for current and former LifeLock customers