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ARTICLE · 26 APRIL 2022

FTC Gets $3M Settlement Over False Money-Making Claims

Frankfurt Kurnit Klein & Selz PC
Frankfurt Kurnit Klein & Selz PC
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Frankfurt Kurnit Klein & Selz PC

Frankfurt Kurnit Klein & Selz PC

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The Federal Trade Commission announced that it reached a $3 million settlement with Warrior Trading, a company that sells day trading courses and other tools, ...

United StatesConsumer Protection

The Federal Trade Commission announced that it reached a $3 million settlement with Warrior Trading, a company that sells day trading courses and other tools, resolving allegations that the company misled consumers about the investment returns consumers would achieve.  

This case is yet another example of the FTC's continued focus on the deceptive marketing of money-making opportunities.  In February, the FTC launched a rulemaking to address "deceptive or unfair marketing using earnings claims."  And, last October, the FTC sent Notices of Penalty Offenses to more than 1,100 businesses that advertise money-making opportunities, warning them that if they deceive or mislead consumers about the potential earnings they can achieve, "the FTC won't hesitate to use its authority to target them with large civil penalties."  

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This post first appeared in Frankfurt Kurnit's Focus on the Data blog (www.focusonthedata.com). It provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

Originally published by the New York Legal Ethics Reporter

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

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