FTC Sues Cambridge Analytica
The Federal Trade Commission filed an administrative complaint against Cambridge Analytica, and filed settlements for public comment with Cambridge Analytica’s former chief executive, Alexander Nix, and an app developer, Aleksandr Kogan, who worked with the company, alleging they employed deceptive tactics to harvest personal information from an identified 30 millions US Facebook users for voter profiling and targeting. The proposed settlements with Nix and Kogan include the
Facebook Settles with Federal Regulators for over $5b
Facebook, Inc. agreed to pay a record-breaking $5 billion penalty to the FTC, and submit to new restrictions and a modified corporate structure relating to allegations that it violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information relating to third party Cambridge Analytica. The order requires Facebook to restructure its approach to privacy from the corporate board-level down, and will hold Facebook executives acc
Whistleblower Awarded $500k by SEC
The Securities and Exchange Commission (SEC) rewarded an overseas whistleblower half-million dollars for expeditious reporting that helped the SEC bring a successful enforcement action. Since its inception in 2012, the SEC's whistleblower program has resulted in more than $2 billion in monetary sanctions ordered against wrongdoers and award of approximately $385 million to 65 individuals since issuing its first award in 2012. All payments are made out of an investor protecti
FDA Sends Official Warnings that Sell CBD Products with Unsubstantiated Claims
The U.S. Food and Drug Administration (FDA) sent a warning letter to Curaleaf Inc., for illegally selling unapproved products containing cannabidiol (CBD) online with unsubstantiated claims that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety, among other conditions or diseases. The FDA has also sent warning letters to other companies. The FDA reiterated its monitoring of the marketplace by taking action as needed against companies that
Equifax Agrees to $575M Settlement Over Data Breach
Following the massive data breach of Equifax that impacted an estimated 147 million people, Equifax has agreed to pay $575 million settlement of class action, state attorney general and federal regulators' claims against it. $425 million will be used to compensate those effected by the breach including providing up to 10 years of free credit monitoring or $125 cash payment; reimbursement for up to $20,00 for your time and expenses in protecting your identity or recovering fr
