TINA.org Notifies Celebrities Promoting NFTs
MADISON, CONN. August 9, 2022 — An increasing number of celebrities are jumping on the NFT bandwagon, showcasing their digital assets on social media for the world to see. But are…
November 2014: A federal judge granted final approval of the settlement agreement.
January 2014: A federal judge preliminarily approved a settlement of a class-action lawsuit against Global Concepts Limited for allegedly falsely advertising Riddex devices. The complaint, which was originally filed in 2012, alleges that the company advertises that the devices will repel pests such as rodents, roaches, ants, and spiders by turning a “home’s wiring system into a pest repellent force field” when, according to the plaintiffs, the devices do not perform as advertised. According to the settlement terms, class members may receive either a $14.95 refund or an additional device for each device purchased. In addition, the company has agreed to change its marketing materials. For more information, go to www.riddexclasssettlement.com. (In Re Global Concepts Limited, Inc., d/b/a Global TV Concepts, LTD., et al., Case No. 12-cv-23064, S. D. FL.).
Katie Notopoulos, BuzzFeed News
What’s behind these ubiquitous social media posts?
Exercise caution when considering celebrity-promoted NFTs.
TINA.org submits a comment to the FTC urging it to update its .com Disclosures guidance to help rein in deceptive marketing.