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Friday, November 20, 2009
Pre-Paid Legal Services Addresses FTC Complaint
FOXBusiness
On Friday, Pre-Paid Legal Services (PPD) tried to diffuse some of the negativity brought on by a complaint from the Federal Trade Commission by saying the complaint was the “next step in an ongoing process."
Shares dropped 19% on Thursday after Pre-Paid Legal Services disclosed the complaint was related to its affirmative defense response system and its identity theft shield.
The draft complaint addresses the way the company has marketed its affirmative defense response system, which offers businesses reduced risk of identity theft. The complaint alleges that the program and its marketing materials may violate the FTC act against misleading representations.
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