Tag: FTC
United they fall
February 28, 2024Ken Showers, Managing Editor
Oh man, I really don’t like doing the same topic two weeks in a row, but we have to talk about ransomware again.
It should be about the ADT webcast, but we’ll save that one for next week, as a treat. Instead, today we’re going to take our medicine and I get to say I told you so while discussing the ransomware attack on UnitedHealthcare by BlackCat. You’ll remember BlackCat (ALPHV) because we’ve covered it before, but also because in this very blog spot last week I...
Vivint to pay $20M to settle FTC claims it misused consumer credit reports
April 29, 2021Paul Ragusa
PROVO, Utah—Smart home security and monitoring company Vivint Smart Homes Inc. has agreed to pay $20 million to settle Federal Trade Commission (FTC) allegations that the Utah-based firm misused credit reports to help unqualified customers obtain financing for the company’s products and services.
Under the settlement, Vivint will pay a $15 million civil penalty and an additional $5 million to compensate injured consumers.
In a complaint filed by the Department of Justice on behalf...
ADT/Protection 1 merger gets FTC go-ahead
March 11, 2016Martha Entwistle
BOCA RATON, Fla.—The ADT/Protection 1 merger passed one regulatory hurdle this week when the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
ADT announced that it received the FTC go-ahead on March 9. The acquisition of ADT by private equity group Apollo Global Management and planned merger with Protection 1 was announced Feb. 16.
The deal, which is expected to close in June, is still...