Lifelock Loses Lawsuit

Filed in Uncategorized by on March 9, 2010 0 Comments

Lifelock has been sued and lost and has to pay millions for defrauding people into thinking they would be protected from identity fraud if they subscribed to “Lifelock.”

It sounded so good too.  I called my homeowners insurance and they told me I had the same coverage with them for up to a million dollars. 

The FTC (Federal Trade Commission) said that basically there were enough loopholes to drive a truck through in Lifelock’s promises.

CNN Money reports,

 “While LifeLock promised consumers complete protection against all types of identity theft, in truth, the protection it actually provided left enough holes that you could drive a truck through it,” said FTC Chairman Jon Leibowitz in a statement.

The settlement to the FTC will be paid millions and “Lifelock” will be banned from making certain claims for the next twenty years.

Now, as to what consumers get if they paid monies to “Lifelock” is unclear to me.  So check out the link below and see if their is a refund involved.  I would think there should be some kind of refund.

 

 

http://money.cnn.com/2010/03/09/news/companies/life_lock_FTC_settlement/

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