FTC sends second payment to people harmed by deceptive investment scheme
The FTC is sending a second round of payments to eligible customers who were harmed by RagingBull.com’s deceptive claims.
The FTC sued Raging Bull, and the company agreed to settle. According to the lawsuit, Raging Bull used bogus earnings claims to trick people into paying for investment strategies and recommendations, and then trapped them into hard-to-cancel subscription plans with costly fees. The company claimed its investment strategies and recommendations would generate consistent, market-beating returns. The FTC says that the company didn’t have evidence to support these claims and that many customers lost large amounts of money. The FTC also says that the company made it difficult for customers to cancel Raging Bull’s subscription services, which resulted in unwanted renewal charges for some customers.
The FTC first sent payments in March 2023, which resulted in more than $1.7 million in refunds. Because there is still money in the fund, the FTC is sending a second round of payments totaling over $627,000 to 6,999 people who accepted their first payment.
If you get a check, please cash it within 90 days.
If you get a PayPal payment, please accept it within 30 days.
You can find answers to common questions about refund payments on our FAQ page. If you have any other questions, please call the refund administrator at 1-877-415-0647.