FTC loses bizopp case
- Thread starter southbound
- Start date
Despite the name, the "Biz-Op" rule doesn't affect most boiler room call floors, even those who sell "biz-op" leads. The rule has a bunch of exceptions that let the floors sell outside of it.
Even if the FTC lost on the injunction petition the case isn't over with and the defendants have already had to spend $xxx,xxx in attorney's fees just to get to where they are, with another easy $xxx,xxx to go unless someone at the FTC is feeling generous and wants to settle before doing depositions and other discovery.
Good luck to those defendants. A buddy of mine just settled up w/the FTC and is now basically bankrupt and facing a second lawsuit from his merchant account provider since he was a personal guarantor on the account and the merchant got stuck paying out an extra $1mm it never received due to the FTC lawsuit.
tl;dr = FTC sucks.
Even if the FTC lost on the injunction petition the case isn't over with and the defendants have already had to spend $xxx,xxx in attorney's fees just to get to where they are, with another easy $xxx,xxx to go unless someone at the FTC is feeling generous and wants to settle before doing depositions and other discovery.
Good luck to those defendants. A buddy of mine just settled up w/the FTC and is now basically bankrupt and facing a second lawsuit from his merchant account provider since he was a personal guarantor on the account and the merchant got stuck paying out an extra $1mm it never received due to the FTC lawsuit.
tl;dr = FTC sucks.
[ame="http://www.youtube.com/watch?v=kAlaiBDyaEA"]Wrath is a Badass - YouTube[/ame]
The FTC got owned just like that tank.
The FTC got owned just like that tank.