John C. Malone, CEO and Chairman of Discovery Holding Company, has agreed to pay a $1.4 million civil penalty to settle Federal Trade Commission charges that he violated the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) in connection with acquisitions of Discovery shares in 2005 and 2008. The FTC alleged that Malone failed to file the […]
Monthly Archives: June 2009
FTC Stops Foreclosure Prevention Marketers Who Misrepresented Their Services and Misled Business Opportunity Buyers
At the request of the Federal Trade Commission, a federal court has halted a bogus mortgage foreclosure prevention operation that misrepresented both the “loss mitigation” services it offered and the earnings potential of the business opportunity it sold. The FTC seeks to end this deceptive scheme and make the defendants give up their ill-gotten gains. […]
Churches at Risk in Bogus Opportunity Scam
Con artists are hawking what they claim is a golden opportunity for churches: Free equipment or services. Often targeting African American churches, these scammers may profess a shared faith, culture, or concern for the community to gain the trust of the church staff. In a common scheme, scammers may offer computer equipment to the staff […]
FTC Obtains $1.7 Million Judgment Against Payment Processor That Took Millions From Consumers Bank Accounts Without Their Authorization
A federal court has ordered a payment processor that debited consumers’ bank accounts without their authorization to pay $1,779,000 in consumer redress and to end the illegal practice. Payment processors serve as middlemen between merchants and banks or credit card companies. In 2006, the Federal Trade Commission charged the defendants with unfairly debiting thousands of […]
FTC Issues Redress Checks to Victims of the J.K. Publications Credit Card Fraud
The FTC, through its claims administrator, mailed more than 400,000 checks totaling over $12 million on Friday, June 12, 2009, to consumers identified as victims of an illegal credit card billing scam operated by J.K. Publications and other defendants. The defendants made unauthorized charges on consumers’ credit and debit cards for purported Internet services. Information […]
FTC Provides Views on Behavioral Advertising to House of Representatives Subcommittees
The Federal Trade Commission today sent a copy of a recent staff report, “Self-Regulatory Principles for Online Behavioral Advertising,” to two subcommittees of the House of Representatives Committee on Energy and Commerce that are holding a joint hearing on behavioral advertising. A letter on behalf of the Commission that accompanied the report states that the […]
FTC Testifies on Efforts to Combat Identity Theft
The Federal Trade Commission today described its comprehensive efforts to combat identity theft before the U.S. House Subcommittee on Information Policy, Census, and National Archives of the Committee on Oversight and Government Reform. The FTC also recommended legislative remedies to enhance the effectiveness of these efforts. The testimony presented by Betsy Broder, Assistant Director of […]
FTC Approves Final Consent Order Related to James B. Nutter & Company; Commission Extends Business Opportunity Rule Public Comment Period Until June 29
FTC Approves Final Consent Order Related to James B. Nutter & Company Following a public comment period, the Commission has approved a final consent order in the matter of James B. Nutter & Company. The vote approving the final order was 4-0. (FTC File No. 072-3108; the staff contact is Alain Sheer, Bureau of Consumer […]
FTC Obtains $2 Million Judgment Against Canadian Bogus Biller
The FTC has obtained a $2 million summary judgment against the leader of a Canada-based scheme that defrauded U.S. businesses out of millions of dollars by billing for unauthorized listings and advertisements in non-existent business and travel directories, and for unordered and undelivered office supplies and consulting services. According to the FTC’s complaint filed in […]
FTC Testifies on “Competition Issues and Follow-on Biologic Drugs”
Testifying today on behalf of the Federal Trade Commission before the Subcommittee on Health of the U.S. House of Representatives Energy and Commerce Committee, Commissioner Pamela Jones Harbour presented the findings and recommendations of the FTC’s new Report, “Follow-on Biologic Drug Competition.” The Report examines whether and how the price of biologic drugs – products […]