Investigation and pending class action lawsuit against LifeLock, a heavily promoted company that claims to protect consumers against identity theft.
The class action lawsuit alleges that Lifelock defrauds customers by offering services it cannot legally perform, and by touting a $1 million guarantee that the suit alleges is wildly misleading. LifeLock uses aggressive advertising to entice consumers to sign up for its $10-a-month service which it describes as "proactive identity theft protection, offer[ing] a proven solution that prevents your identity from being stolen before it happens." According to the class action lawsuit there are types of identity theft that LifeLock does not protect against and LifeLock overstates the protection consumers get from fraud alerts.
Name (Stock Symbol)
Lifelock provides a service to prevent identity theft.
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