Federal Trade Commission v. Ivy Capital Inc., et al.
Published: Feb. 2, 2013 | Result Date: Dec. 20, 2012 | Filing Date: Jan. 1, 1900 |Case number: 2:11-cv-00283-JCM -GWF Settlement – $130,000,000
Court
USDC Nevada
Attorneys
Plaintiff
Daniel O. Hanks
(Federal Trade Commission)
Emily C. Burton
(Federal Trade Commission)
Blaine T. Welsh
(Office of the U.S. Attorney, District of Nevada)
Defendant
Facts
The Federal Trade Commission filed a complaint against Ivy Capital Inc. for allegedly running a massive business "coaching" scheme that took more than $100 million from consumers trying to run their own online businesses. The FTC alleged that Ivy Capital misrepresented the earning potential of the program, misrepresented their goods and services, and failed to fully disclose and honor their refund policy in violation of federal law. Most consumers paid between $2,000 and $20,000 for the program and related products and services, but received very little in return. They also found it difficult to obtain a refund.
Result
Ivy Capital agreed to settle the matter, which would impose a $130 million judgment.
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