DOJ - CybAI news

25 Sep

Visa slapped with a DOJ antitrust lawsuit

stp2y0 CommentsNewsantitrust, attorney general, debit, department of justice, DOJ, finance, lawsuit, merrick garland, monopoly, news, paypal, plaid, stripe, tomorrow, Visa

The Department of Justice (DOJ) filed an antitrust lawsuit against Visa. The lawsuit alleges that the financial firm holds a monopoly over debit network markets allowing it to charge banks and markets with exorbitant fees that get passed onto consumers and keep rival companies like PayPal and Square from competing on their level. first reported on Monday that the DOJ planned to file an antitrust suit against Visa following a multiyear investigation into Visa’s business practices starting in 2020. Visa attempted to acquire with a $5.3 billion bid but the DOJ filed a lawsuit blocking the deal claiming the acquisition would…

16 Sep

Former MoviePass CEO reportedly pleads guilty to securities fraud

stp2y0 CommentsNewsDOJ, entertainment, fraud, indictment, moviepass, news

Mitch Lowe, one of two MoviePass leaders indicted by the Justice Department in 2022, has pleaded guilty to securities fraud charges. The former CEO admitted to conspiring to deceive the public and investors about the service’s sustainability. Variety reports that the details of Lowe’s plea agreement haven’t been made public.Prosecutors claim Lowe knew from the start that the company’s $9.95 “unlimited” plan was a short-term gimmick to attract subscribers and inflate stock. He’s also accused of making false statements in press releases, interviews and SEC filings about MoviePass’ long-term viability.Those statements included allegedly lying about the company’s ability to become…

02 Aug

The Justice Department sues TikTok for breaking child privacy laws

stp2y0 CommentsNewsDOJ, FTC, gear, news, tiktok

The US Department of Justice TikTok for violating a child privacy law and violating a 2019 agreement with the Federal Trade Commission for previous privacy violations. The lawsuit stems from an earlier investigation into the company by the Federal Trade Commission, which its privacy case to the DoJ earlier this year.The FTC had been looking into whether TikTok had violated the terms of an earlier privacy settlement with Musical.ly, which was acquired by ByteDance prior to the launch of TikTok. According to , the investigation found that TikTok had “flagrantly” violated both the 2019 settlement and the Children's Online Privacy…

08 Jul

Boeing agrees to plead guilty to conspiracy to defraud the US government

stp2y0 CommentsNewsBoeing, department of justice, DOJ, fraud, gear, news

The US Department of Justice and Boeing have reached an agreement that the latter will plead guilty to a conspiracy to defraud the US government charge stemming from two fatal crashes that killed 346 people in 2018 and 2019, the New York Times reports.In May, the DOJ announced that Boeing violated its 2021 deal to pay penalties and compensation, as well as implement major safety changes — just four months prior, a cabin panel blew off an Alaska Airlines flight while it was at 16,000 feet in the air. The DOJ offered the company a plea deal on June 30,…

17 Jun

The US has sued Adobe over early termination fees and making subscriptions hard to cancel

stp2y0 CommentsNewsadobe, DOJ, FTC, gear, news, Photoshop, sued

The US government has sued Adobe and two senior company executives for allegedly deceiving consumers by hiding early termination fees and making them jump through hoops to cancel subscriptions to Adobe products.The complaint filed by the Department of Justice on Monday accuses the Adobe of pushing consumers towards its “annual paid monthly” subscription plan without adequately disclosing that canceling the plan within the first year could result in an early termination fee. The complaint also alleges that Adobe’s early termination fee disclosures were buried in fine print or required consumers to hover over tiny icons to find them.“Americans are tired…