Consumer Reports Finds Inconsistent Battery Results in Mac
Consumer Reports said for the first time that it cannot recommend the purchase Apple’s new MacBook Pro advertised as having “up to 10 hours of battery life." Consumer Reports based its determination upon its product-testing that showed the laptop’s “highly inconsistent” battery life with consecutive tests that showed one 13-inch MacBook Pro model ran for 16 hours in the first trial, 12.75 hours in the second and just 3.75 hours in the third. Andersen Sleater LLC's attorneys r
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Platinum Fund Charged with Securities Fraud
The Securities and Exchange Commission and US Attorney's Office charged the founder of Platinum Partners, Mark Nordlicht, and two of its flagship hedge fund advisory firms with conducting a fraudulent scheme to inflate asset values, including of an oil company, and illicitly move investor money between funds to cover losses and liquidity problems. The SEC complaint also alleges that Nordlicht schemed with two colleagues and an executive at the Platinum funds’ other major oil
FTC Bars CarMax and Others from Making Inspection Claims Without Disclosing Recalls
CarMax Inc. and two other major used auto retailers, Asbury Automotive Group and West-Herr Automotive Group, agreed to settle Federal Trade Commission charges that they touted their rigorous multi-point inspections of their used cars and failed to adequately disclose that some of the cars were subject to unrepaired safety recalls. They will be prohibited from such conduct in the proposed consent orders. The false claims prevented consumers from making an informed decision abo
Class Action Targets Prescription Pet Food
A class action lawsuit alleges that pet food manufacturers Nestle Purina, Mars Petcare, and Hill’s Pet Nutrition, pet supply chain PetSmart, and veterinary chains Banfield Pet Hospital and BluePearl Vet all conspired with each other to falsely promote “prescription” pet food in violation of antitrust laws. Vets prescribe certain pet foods to consumers that often carry a hefty price tag purportedly based on medical advice for their pets. Andersen Sleater LLC represents consume
Marketers of Blood Pressure App Settle Charges for Inaccuracy
The marketers of a mobile app designed to measure blood pressure, Aura Labs, Inc., doing business as AuraLife and AuraWare, and its founder and co-owner, Ryan Archdeacon, agreed to settle charges by the Federal Trade Commission that they deceptively represented that their Instant Blood Pressure (IBP) app was as accurate as a traditional blood pressure cuff and failed to disclose the owner's “five stars” review of the app in the Google Play and Apple’s App Stores. The defendan
SEC Busts Traders For Stock Manipulation
The Securities and Exchange Commission charged two New Jersey-based traders, Joseph Taub and Elazar Shmalo, with manipulating more than 2,000 NYSE- and NASDAQ-traded stocks through dozens of accounts at various brokerage firms to avoid detection and artifically drive up or down the price of the stock for their personal benefit. They reaped more than $26 million in profits from their successful trades. Andersen Sleater LLC's attorneys represent stockholders who have been defra
