A federal court has granted the Federal Trade Commission’s request to temporarily halt the alleged illegal practices of Online Trading Academy (OTA). The FTC’s complaint against OTA, Eyal Shachar (also known as Eyal Shahar), Samuel Seiden, and Darren Kimoto, filed earlier this month, alleges that the defendants have used false or unfounded earnings and related […]
Category Archives: Federal Trade Commission
Deputy General Counsel Heather Hippsley Retiring From the FTC
Federal Trade Commission Chairman Joseph J. Simons announced today that FTC Deputy General Counsel Heather Hippsley is retiring from the Commission on February 29, after more than 35 years of service to the Commission and consumers. “Heather is an exemplary leader and a tireless advocate for the American public,” Chairman Simons said. “We are deeply […]
FTC and Commonwealth of Pennsylvania Challenge Proposed Merger of Two Major Philadelphia-area Hospital Systems
The Federal Trade Commission has authorized an action to block the proposed merger of Jefferson Health and Albert Einstein Healthcare Network, two leading providers of inpatient general acute care hospital services and inpatient acute rehabilitation services in both Philadelphia County and Montgomery County, Pennsylvania. The FTC issued an administrative complaint alleging that the proposed merger […]
FTC Staff Perspective Recaps Small Business Financing Forum
A new paper from the Federal Trade Commission’s Bureau of Consumer Protection provides a look at the information covered in the FTC’s “Strictly Business” forum on small business financing. The staff perspective paper outlines a number of topics discussed by participants in the forum. It provides an overview of small business lending and the emergence […]
FTC Files Suit to Block Joint Venture between Coal Mining Companies Peabody Energy Corporation and Arch Coal
The Federal Trade Commission has filed an administrative complaint challenging a proposed joint venture between Peabody Energy Corporation and Arch Coal. The transaction would combine their coal mining operations in the Southern Powder River Basin, located in northeastern Wyoming. The complaint alleges that the transaction will eliminate competition between Peabody and Arch Coal, which are the […]
Operator of Fraudulent Debt Collection Scheme Settles With FTC, New York
The operator of a debt collection scheme has settled claims by the Federal Trade Commission and New York Attorney General that he and the companies he controlled lied to consumers about how much debt they owed and used illegal scare tactics to collect it. Under the settlement, Robert Heidenreich, who ran the scheme from the Buffalo, […]
FTC Sends Refund Checks to Tech Support Scam Victims
The Federal Trade Commission will begin sending refunds totaling more than $1.7 million to consumers who were victims of a tech support scam. The scam tricked consumers into buying tech support services by claiming their computers were infected with viruses, malware, or other security breaches. The FTC, along with State of Connecticut and Commonwealth of […]
FTC Refunding Consumers Defrauded by Cognitive Improvement Claims
The Federal Trade Commission is mailing 27,174 refund checks totaling over $551,000 to consumers who purchased deceptively marketed “cognitive improvement” supplements. According to the FTC’s April 2019 complaint, between August 2012 and January 2017, twelve corporate and four individual defendants deceptively marketed “cognitive improvement” supplements using sham news websites containing false and unsubstantiated efficacy claims, […]
FTC Releases 2019 Privacy and Data Security Update
The Federal Trade Commission today released its annual privacy and security update for 2019, highlighting a record year for enforcement actions aimed at protecting consumer privacy and data security. For example, the Commission levied a $5 billion penalty—the largest consumer privacy penalty ever—against Facebook for violating its 2012 FTC privacy order and imposed new restrictions […]
Rent-to-Own Operators Settle Charges that They Restrained Competition through Reciprocal Purchase Agreements
Rent-to-own operators Aaron’s Inc., Buddy’s Newco, LLC, and Rent-A-Center, Inc. have agreed to settle FTC charges that they negotiated and executed reciprocal purchase agreements in violation of federal antitrust law. The complaints allege that from June 2015 to May 2018, Aaron’s, Buddy’s, and Rent-A-Center each entered into anticompetitive reciprocal agreements with each other and other […]