IAC's Care.com Reaches $8.5M Settlement With U.S. FTC For Making It Hard For Customers To Cancel Memberships
Portfolio Pulse from Benzinga Newsdesk
Care.com, owned by IAC, has agreed to an $8.5 million settlement with the U.S. FTC over allegations of making it difficult for customers to cancel memberships.
August 26, 2024 | 3:17 pm
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IAC's subsidiary, Care.com, has settled with the FTC for $8.5 million due to issues related to membership cancellations. This legal settlement may impact IAC's financials and reputation.
The settlement involves a significant financial penalty and addresses regulatory compliance issues, which could negatively impact IAC's stock price in the short term due to potential reputational damage and financial implications.
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