May 10, 2012 |
Facebook's $1-billion purchase of photo-sharing site Instagram is under review by the Federal Trade Commission, according to the Financial Times. The routine competition investigation could take six months to a year, the FT reports , which could delay the deal's anticipated second-quarter closing. Facebook had indicated in filings for its initial stock offering that it expected to close the deal by end of this quarter. Deals for more than $66 million typically undergo greater regulatory scrutiny , under current antitrust law. Initially, the FTC and Department of Justice do a preliminary review to determine whether any antitrust concerns come up warranting closer examination.
March 12, 2014 |
The rancorous battle over Herbalife's business practices took a critical turn as the company revealed that it is being investigated by the Federal Trade Commission. Herbalife did not reveal details of the probe, but the Los Angeles nutritional products maker reiterated its long-held position that its business model is sound. The company has been the target of accusations that it operates a pyramid scheme. "Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC," the company said in a statement.
March 12, 2011 |
The Federal Trade Commission has agreed on a settlement with Twitter resulting from the site's alleged "serious lapses" in data security that allowed hackers to take over Twitter twice in 2009, accessing users' private information and hijacking accounts to send out phony tweets. According to an FTC statement, the settlement "resolved charges that Twitter deceived consumers and put their privacy at risk by failing to safeguard their personal information. " Twitter, which was about 2 years old at the time of the incidents, was a young site that often struggled under the weight of its fast-growing traffic and server demands.
November 1, 2012 |
“Rachel from Cardholder Services” may not be calling you anymore. A federal court order Thursday morning temporarily halted operations at five telemarketing firms that the Federal Trade Commission said illegally dialed up consumers with millions of prerecorded messages - often saying they were from "Rachel. " “Rachel from Cardholder Services is public enemy No. 1,” FTC chairman Jon Leibowitz said in a statement. The FTC receives 200,000 complaints a month about robocalls.
November 21, 2013 |
An Arizona company that offered to help fraud victims recover stolen money instead defrauded them again by selling worthless do-it-yourself kits that cost hundreds of dollars, the Federal Trade Commission said. Business Recovery Services of Mesa, Ariz., and its owner, Brian Hessler, preyed on victims of telemarketing fraud but then failed to help them recover any money, the FTC said. "In effect, this scheme rubbed salt in the wound of people who had already been victimized, targeting them and defrauding them all over again," said Jessica Rich, director of the FTC's consumer protection division.
January 2, 2013 |
For two years, Microsoft Corp. has urged antitrust regulators to crack down on arch rival Google Inc. Now that the Federal Trade Commission is poised to allow Google to emerge from the antitrust probe without having to make major changes, Microsoft is crying foul. Google is set to resolve a 20-month antitrust probe with a voluntary agreement and a consent decree on the company's use of patents, Bloomberg News reported Wednesday. That means Google will voluntarily change some of its business practices, including how it uses content from other websites and allows advertisers to export data.