According to an FTC press release on March 3, 2010 and as reported in various media outlet reports, like this one from The New York Times, LifeLock, Inc., an identity theft protection company, has agreed to pay $11 million to the Federal Trade Commission and $1 million to a group of 35 state attorneys general to settle charges that the company used false claims to promote its identity theft protection services.
The FTC claims and state attorneys general actions appear to have been centered around LifeLock’s representations that its protections against identity theft were complete, absolute, and guaranteed. FTC Chairman Jon Leibowitz noted in the FTC’s press release,
"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."…
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