FTC Blogs

How to avoid common HSR filing mistakes on affidavits and notice letters

The PNO handles Hart-Scott-Rodino Premerger Notification Filings for well over a thousand transactions each year. When you submit an HSR Form with all the required information, the PNO can quickly review the filing, and if necessary, forward it to the investigative staff who will focus on determining whether the acquisition presents competitive issues that warrant further review.

Drum roll, please…

The FTC recently attended DEF CON 22, and challenged the tech-savvy to help us zap “Rachel from Cardholder Services” and her robocall buddies. How? The agency hosted a contest to see who could develop a cutting-edge robocall honeypot — an information system designed to attract robocallers, and help researchers and investigators understand and minimize illegal calls. Today, the FTC announced the winners, who will receive a combined total of $12,000 in prizes.

Can you spot a government imposter?

Your caller ID says “FTC” or “IRS,” and the phone number has the “202” Washington, DC area code. You might even look the number up and see that it’s a real government phone number. But the person calling isn’t really from the FTC, IRS, or any other agency. It’s a government imposter whose goal is to convince you to send money before you figure out it’s a scam. The big giveaway? They want you to send money.

A bossy business scam

You get an email from your boss’s boss requesting that you make a wire transfer to a new vendor. The email is marked urgent, so you ignore the 20 others that need your attention to take care of it. You handle wire transfers all the time, and you’ll definitely score points for responding so quickly, right? Maybe not.

A bossy business scam

You get an email from your boss’s boss requesting that you make a wire transfer to a new vendor. The email is marked urgent, so you ignore the 20 others that need your attention to take care of it. You handle wire transfers all the time, and you’ll definitely score points for responding so quickly, right? Maybe not. In a recent scheme, sometimes called “masquerading,” a hacker poses as a senior executive and asks an employee to complete a financial transaction, like a confidential business investment or a payment to a vendor.  Once money is wired to a bogus account, it can be nearly impossible to recover.

Debt relief scammers falsely claim government affiliation

What do you get when you mix a fraction of truth and a whole lot of lies? The FTC’s case against scammers who allegedly operated websites that promote a fictitious “Bill Payment Government Assistance Program” — a debt relief program claiming to pay consumers’ bills and repair their credit in exchange for an advance fee.

The final chapter in the FTC’s “Your Baby Can Read!” case

With a product name like “Your Baby Can Read!” – exclamation point in the original – it didn’t take long for consumers to figure out what the marketers were promising.  The company’s massive ad campaign featured 14-month-olds mastering vocabulary flashcards, two-year-olds reading books, and an array of charts, graphs, and studies purporting to show that Your Baby Can Read! was scientifically proven to work.

Wow! Your baby can read? Really?

All parents think their babies rock. But when a company says its product will help a kid master reading Harry Potter during the potty-training years, it needs solid science to support those claims. The FTC says Dr. Robert Titzer and his company, Infant Learning, Inc., deceived consumers with ads for Your Baby Can Read, a set of DVDs, books and word cards that cost around $200. These ads and other promotional materials promoted the program’s ability to teach babies as young as nine months to read — with their skills advancing to books like Charlotte’s Web by ages three or four.

Have a good plan for HSR compliance

Our recent civil penalty action involving Berkshire Hathaway’s failure to file the required Hart-Scott-Rodino notification is a reminder to investors to be alert to common filing mistakes. It is also a reminder that every investor—companies and individuals alike—needs to have a program in place to ensure compliance with HSR filing obligations.