Match Group stock tumbled as much as 9% after the Federal Trade Commission announced a lawsuit alleging the company used fake love-interest ads to lure consumers into buying subscriptions. Consumers purchasing Match.com subscriptions “generally were unaware” that as many as 25% to 30% of members were using the platform for scams, the FTC said Wednesday. Watch Match trade live here. Tinder- …
A Massachusetts man who filed a class-action lawsuit against Dunkin’ Donuts over fake butter has reportedly reached a settlement that could mean free buttered baked goods for 1,400 customers, according to a report. Jan Polanik, the lead plaintiff in the class-action, may receive $500, according to the New York Post. Polanik sued several of the chain’s franchises, saying he got the fake stuff …
On Thursday, in a court of law, BuzzFeed fought for the right to verify what’s true and what’s fake. The digital news hub, partly owned by NBCUniversal, is defending an $11 million defamation lawsuit over an Aug. 24, 2015 story headlined, “The King of Bullsh*t News.” The subject of that story was the wacky reports from Michael Leidig’s Central European News, including a story about a woman in …
A lawsuit filed by Alibaba Group Holding Ltd. is shining a light on the fake reviews and purchases on its websites. China’s biggest e-commerce operator sued Shatui.com, which allegedly links merchants with people willing to falsify purchases and write positive comments that can drive sellers up Alibaba’s rankings. The suit in Hangzhou West Lake District People’s Court is seeking 2.16 million …
The complainant is Taylor, Bean & Whitaker (TBW), which was a top-10 wholesale mortgage lending firm. The trustees of the company are accusing PwC of negligence in their audits of TBW’s lender, Colonial Bank. In an agreement between the top management of the borrower and the bank, starting from 2002, TBW chairman Lee Farkas sent mortgage data to Colonial Bank for fake loans or those the company …