LifeLock, the well-known, heavily advertised identity theft protection services company, is being sued by its own shareholders, the law firm of Kessler Topaz Meltzer & Check, LLP announced on July 27. 

The complaint alleges that LifeLock and certain of its executive officers made a series of false and/or misleading statements to investors, and failed to disclose material adverse facts about the Company's business, operations and prospects.

Specifically, the defendants are alleged to have made false and/or misleading statements and/or failed to disclose, among other things: (1) that the Company had failed to establish and maintain a comprehensive information security program to protect its users' sensitive personal data, including credit card, social security, and bank account numbers; (2) that the Company falsely advertised that it protected consumers' sensitive data with the same high-level safeguards as financial institutions; (3) that the Company failed to meet the 2010 settlement order's recordkeeping requirements; and (4) that, as a result of the foregoing, the Company's statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. Read the law firm's complete press release at CNN Money....

Last week, the Federal Trade Commission re-opened an investigation into LifeLock's fraudulent activities after the company failed to honor 2010 court order to repay its clients $12 million.

In this video, Oberthur Technologies North America President Martin Ferenczi discusses identity theft and credit card solutions. He speaks on "Market Makers." 

This new "Chip and PIN" technology will provide a high degree of confidence that your card cannot be counterfeited," he says.

When asked why it has taken over 10 years for this technology to start being used in the United States when it has long been used in other countries, Ferenczi replies, "because it wasn't born in the United States." 

A second reason is that the U.S. has far better communication systems than other countries; therefore our online financial transaction security systems have been relatively more secure than in other nations.

Click here to watch this 3:30 minute video at Bloomberg.com.

Cybersecurity experts say it's possible people who have fallen for an online scam involving a bogus coupon from supermarket giant Publix, may have opened themselves up to identity theft.

Publix says a $100 discount offer making its way around social media sites is not real.

"It looks exactly like the four and five dollar coupons that I usually get," said Rebecca Sedita, a loyal Publix customer who opened the fake coupon link on Facebook this past Sunday.

And she is not alone. Read more at WTSP-TV....

Protect yourself from identity theft with IDShield.

Starting a successful business takes time, money, patience, determination and a healthy dose of luck. Getting off to a good start means being prepared for any number of challenges. If you are a small business owner or are planning to start a new business, these tips may help put you on the path to success. If you have any questions, contact your LegalShield provider law firm today.

1. Business Plan - Every business should start with a well crafted business plan. Your plan should cover basic topics such as your company’s goals, management structure, services/products, target clients and marketing strategies. A business plan provides internal guidance and increases external confidence in your business, making it more likely to secure funding.

2. Insurance - There are many different types of coverage you should consider, from general business liability insurance to business errors and omissions insurance for directors and officers. Depending on the number of employees and state or provincial laws governing your business, you may be required to purchase workers’ compensation insurance. You may also need to pay unemployment insurance. Talk to an experienced insurance agent and become familiar with best practices and the regulations that govern your industry.

3. Business Entity Formation – There may be significant benefits to forming a limited liability company (“LLC”) or corporation. These types of entities may benefit you in regard to personal liability, taxation and protection of personal assets. Consult with an attorney or CPA to determine which business entity, if any, will be most beneficial to your business. To learn more about the laws and requirements in your state or province, call your LegalShield provider law firm.

4. Permits & Licenses – Before you begin operating a business, check with your state or provincial regulatory agencies to ensure that you have the authority to proceed. Certain businesses require special licensing or certification.

5. Intellectual Property (IP) - IP laws can be incredibly complex, but they should not be ignored. Make sure you understand what can be done to protect your IP. Call you LegalShield provider law firm and speak with an experienced attorney.

6. Advisers - Consult with attorneys, accountants and businesspeople that have experience in your industry. Surrounding yourself with advisers who are knowledgeable will help you get off to the best possible start.

7. Commitment - Your business will only be successful if you commit to it completely. Understand that there may be setbacks and challenges along the way but learning from and moving past those difficulties will make you and your business stronger.

Reprinted from LegalShield's corporate website. For more information about LegalShield services or to become a member, click here.