Litigation

FTC taking action against Pre-Paid Legal Services Inc.

By Tracy Coenen

Much to my surprise, the Federal Trade Commission appears to be taking action against Pre-Paid Legal Services (NYSE:PPD) for making misleading representations in connection with its Identity Theft Shield and Affirmative Defense Response System products.

The company is named, along with CEO Harland Stonecipher anbd Chief Marketing Officer Mark Brown. The FTC seeks not only to take away the money Pre-Paid Legal made on these services, but also permanent injunctive relief.

Of course, the company’s press release made no mention of all the work done by Robert FitzPatrick of Pyramid Scheme Alert and Barry Minkow of Fraud Discovery Institute, who both worked vigorously to expose the frauds being perpetrated on consumers by Pre-Paid Legal.

You can read more about the work of both Robert and Barry, which I participated in, on this blog.

Full post as published by The FRAUDfiles Blog on November 19, 2009 (boomark / email).