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LifeLock agrees to $12 million settlement with FTC, states

( March 9, 2010, 12:00 GMT | Official Statement) -- MLex Summary: LifeLock, a company offering identity theft protection services, and its two founders Richard Todd Davis and Robert J. Maynard, Jr., have agreed to settle a complaint, which the US Federal Trade Commission filed in Arizona federal court, alleging the company made false advertising claims and misrepresented its data security practices to consumers. Under the terms of the settlement, the company and its founders are barred from making misrepresentative statements, must set up a comprehensive information security plan and pay $12 million in fines to the FTC and a group of 35 states' attorneys general.Full statement follows...

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