Delivered-To: dfarber+@xxxxxxxxxxxxxxxxxx
Date: Mon, 22 Sep 2003 15:08:14 -0400
From: Gene Gaines <gene.gaines@xxxxxxxxxxxxxxx>
Subject: FTC charged VeriSign with deceptive-business practices -- but not
over
Sitefinder
To: dave@xxxxxxxxxx
Dave, you did see the news item, didn't you?
It is quoted below.
Let's see, Verisign has a substantial charge of deceptive
business practices brought by the Federal Trade Commission
dating back to Spring 2002.
That reaches court on Sep. 11, 2003, with a prompt settlement,
following a successful class action suit against Verisign
in California.
Verisign's "Find" service started the following Monday, Sep. 15.
I suppose they were very busy over the wekend? Give me a break!
Gene Gaines
gene.gaines@xxxxxxxxxxxxxxx
Sterling, Virginia
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Reuters
VeriSign agrees to Oversight of marketing efforts
Monday September 15, 3:10 pm ET (2003)
By Andy Sullivan
WASHINGTON, Sept 15 (Reuters) - U.S. regulators will make sure
Internet domain-name seller VeriSign Inc (NasdaqNM:VRSN - News).
provides refunds or free service to consumers it signed up in a
controversial marketing campaign last year, according to court
documents filed late last week.
The Federal Trade Commission charged VeriSign with deceptive-business
practices on Thursday in U.S. court in Washington after the firm sent
out "domain name expiration notices" to competitors' customers in the
spring of 2002.
VeriSign warned domain-name holders that they could lose control of
addresses like "www.example.com" if they did not promptly send $29 to
VeriSign.
The forms were intended to trick domain owners into unwittingly
transferring their accounts to VeriSign, the FTC charged.
VeriSign agreed to provide refunds or a year of free service to
thousands of customers under a class-action settlement reached earlier
this year in a California court. Friday's FTC settlement, in which the
company did not admit or deny guilt, means that it could face steep
fines if it resorts to such marketing tactics again.
VeriSign must also allow the FTC to monitor its marketing efforts for
the next five years.
"This matter relates to a marketing campaign that ended more than a
year ago," VeriSign spokesman Tom Galvin told Reuters. "VeriSign
cooperated fully with the FTC and is pleased that the matter is fully
resolved."
An FTC official declined to comment.