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From: security curmudgeon (jerichoattrition.org)
Date: Wed Feb 20 2008 - 19:52:52 CST
Experian sues LifeLock, alleges fraud
Posted: Wednesday, February 20 at 04:01 pm CT by Bob Sullivan
Credit bureau Experian is suing the identity theft prevention firm
LifeLock, accusing it of deception and fraud in its familiar advertising
campaign, which includes a spot in which CEO Todd Davis reveals his Social
Security number and then brags about the effectiveness of the companys
In the lawsuit, filed in U.S. District Court on Feb. 13, Experian contends
that LifeLock's advertising is misleading and that the firm is breaking
federal law in the way it goes about protecting consumers.
Lifelock CEO Davis, in an interview with msnbc.com on Wednesday, called
the lawsuit baseless and said that Experian is simply upset that his firm
is challenging its business model.
"This lawsuit is not about helping consumers," he said. "They just want to
make more money selling their data."
LifeLocks ubiquitous marketing campaign has been stepped up in recent
months, Davis said, thanks to a new infusion of investments in the
company. In January, the firm announced it had raised $25.5 million in
funding orchestrated by Goldman Sachs Group. The advertising has
apparently paid off: Lifelock has 700,000 customers, each paying about $10
per month for the service.
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