NEW YORK, Sept. 30, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential misconduct by the officers and directors of
LifeLock, Inc. ("LifeLock" or the "Company").
![Faruqi & Faruqi, LLP. Faruqi & Faruqi, LLP.](http://photos.prnewswire.com/prnvar/20120119/MM38856LOGO)
The investigation focuses on the role of the Company's officers
and directors in failing to comply with the terms of a settlement
entered into by the Company with the Federal Trade Commission
("FTC") in 2010 in connection with claims made by the Company
concerning its identity theft product (the "2010 Settlement"). On
March 9, 2010, the FTC issued a press
release announcing that it had entered into the 2010 Settlement
whereby LifeLock agreed to pay $11
million to the FTC and $1
million to a group of 35 state attorneys general to settle
the claims set forth in the FTC's complaint. The 2010
Settlement also barred LifeLock from making deceptive claims,
misrepresenting the risk of identity theft, and the manner and
extent to which LifeLock protects consumers' personal information.
The 2010 Settlement required LifeLock to establish a comprehensive
data security program and obtain biennial independent third-party
assessments of that program for twenty years.
On July 21, 2015, the FTC issued a
press release announcing that from at least October 2012 through March
2014, LifeLock violated the 2010 Settlement by: 1)
failing to establish and maintain a comprehensive information
security program to protect its users' sensitive personal data,
including credit card, social security, and bank account numbers;
2) falsely advertising that it protected consumers' sensitive data
with the same high-level safeguards as financial institutions; and
3) failing to meet the 2010 order's recordkeeping requirements. In
documents filed with the U.S. District Court for the District of
Arizona, the FTC asked the court
to impose an order requiring LifeLock to provide full redress to
all consumers affected by the Company's violations of the 2010
Settlement.
Request more information now by clicking here:
www.faruqilaw.com/LOCK. There is no cost or obligation
to you.
Take Action
If you currently own LifeLock stock and would like to discuss
your legal rights, please visit www.faruqilaw.com/LOCK. You
can also contact us by calling Stuart
Guber toll free at (215) 277-5770 or by sending an e-mail to
sguber@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding LifeLock's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We welcome the opportunity to discuss your particular case.
All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
101 Greenwood Avenue Suite 600
Jenkintown, PA 19046
Attn: Stuart Guber
sguber@faruqilaw.com
Telephone: (215) 277-5770
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