LifeLock Statement on Federal Trade Commission Filing
21 Juli 2015 - 8:42PM
Business Wire
LifeLock, Inc. (NYSE: LOCK), an industry leader in proactive
identity theft protection, today issued the following
statement:
“After more than 18 months of cooperation and dialogue with the
FTC, it became clear to us that we could not come to a satisfactory
resolution of their issues outside a court of law. We disagree with
the substance of the FTC’s contentions and are prepared to take our
case to court.
“LifeLock is proud of the valuable service we provide to our
members. Quite simply, our members are our highest priority, and we
work hard to protect them against threats to their identity. We
help our members by alerting them of potential identity threats
and, if a member does become a victim of identity theft, our
specialists step in. We spend up to $1 million to help in
remediation and recovery.
“Importantly the FTC is not seeking any relief that would change
LifeLock services and products going forward. The claims raised by
the FTC are all related to the past, not to current business
practices.
“LifeLock takes the accuracy of our advertising materials very
seriously. The alerting claims raised by the FTC did not result in
any known identity theft for LifeLock members.
“Security of our systems has always been, and will remain, of
primary importance to us. Based on the evidence, we do not believe
that anything the FTC is alleging has resulted in any member’s data
being taken. As required by the FTC's consent order in 2010,
LifeLock hired highly-credentialed, independent professionals to
assess its information security. We are committed to maintaining
high standards and to continual improvement, and we have spent
thousands of hours and millions of dollars to achieve those
standards in full compliance with the order. Every audit completed
by those third parties affirmed that we were in compliance.”
Governor Tom Ridge, Former Secretary of Homeland Security,
former Governor of Pennsylvania, and Member, LifeLock Board of
Directors said, “My colleagues and I on the company’s board of
directors know the people of LifeLock, meeting and talking with
them on a regular basis. These are truly dedicated employees,
committed to their work—namely, helping to protect LifeLock members
from identity theft and restoring the identities of those who are
victimized. Whether they’re responding to member calls or focused
on developing new products and technology for LifeLock members,
these are the kind of people you want on your side. As directors,
we take great pride in their commitment to the communities in which
they work and live. It’s part of the LifeLock culture, supporting
children and victims of domestic violence, training law enforcement
to help fight identity theft, and educating families on digital
citizenship and online safety for their children.”
LifeLock will report its second quarter 2015 financial results
on July 29, 2015.
About LifeLock
LifeLock, Inc. (NYSE:LOCK) is a leading provider of proactive
identity theft protection services for consumers and consumer risk
management services for enterprises. LifeLock’s threat detection,
proactive identity alerts, and remediation services help provide
peace of mind for consumers amid the growing threat of identity
theft. Leveraging unique data, science and patented technology from
ID Analytics, Inc., a wholly-owned subsidiary, LifeLock offers
identity theft protection that goes significantly beyond credit
monitoring. As part of its commitment to help fight identity theft,
LifeLock works to train law enforcement and partners with a variety
of non-profit organizations to help consumers establish positive
habits to combat this threat.
Forward-Looking Statements
This press release contains a “forward-looking” statement, as
that term is defined under the federal securities laws, regarding
our belief that nothing the FTC is alleging has resulted in any
member’s data being taken. These forward-looking statements are
based on our current assumptions, expectations, and beliefs and are
subject to substantial risks, uncertainties, assumptions, and
changes in circumstances that may cause our actual results,
performance, or achievements to differ materially from those
expressed or implied in any forward-looking statement.
The risks and uncertainties referred to above
include, but are not limited to, risks associated with claims the
FTC may seek against us; our ability to protect our customers’
confidential information; and other “Risk Factors” set forth in our
most recent SEC filings. Further information on these and other
factors that could affect our financial results and the
forward-looking statement in this press release is included in our
SEC filings, including our Annual Report on Form 10-K for the year
ended December 31, 2014, particularly under the captions “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations.” Copies of these documents are
available on our Investor Relations website at
http://investor.lifelock.com/ or the SEC's website at www.sec.gov.
We assume no obligation and do not intend to update these
forward-looking statements, except as required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150721006473/en/
Media ContactLifeLock, Inc.Kelley Bonsall,
480-457-2170media@lifelock.comorInvestor ContactICR for
LifeLockStaci Strauss Mortenson,
480-457-5000Investor.relations@lifelock.com
Lifelock, Inc. (delisted) (NYSE:LOCK)
Historical Stock Chart
Von Jul 2024 bis Aug 2024
Lifelock, Inc. (delisted) (NYSE:LOCK)
Historical Stock Chart
Von Aug 2023 bis Aug 2024