Identity protection firm LifeLock comes under fire as trial lawyers have filed a class action lawsuit against its company and CEO.
LifeLock CEO Todd Davis said the claims are completely untrue and reflect total inexperience and lack of understanding of how credit files and identities work.
By: Sandra Vasquez
May 25, 2008 13:24 PM GMT
LifeLock CEO Todd Davis has become famous for his commercials where he offers his social security number to prove how confident he is in his company’s identity theft protection program.
As the industry leader in identity theft protection, LifeLock proactively protects identities with a number of measures backed by a $1 million service guarantee to restore the identity and pay all direct costs and expenses resulting from the identity theft.
"My identity has been completely protected by LifeLock and I am as confident as ever about the LifeLock service," says Todd Davis, CEO of LifeLock. "It is shocking that completely untrue statements about our company, the protection we provide and my personal identity are being repeated from a trial lawyer looking to create a case that clearly is not in the best interest of consumers."
A clear indication on how LifeLock really works, only 105 people have been the victim of identity theft. Actually, among the 105 who have reported an identity theft, each one has been covered under the LifeLock service guarantee.
Recent claims have suggested that Davis’ social security number has been used at least 20 times to obtain drivers licenses and other credit.
"These claims are completely untrue and reflect total inexperience and lack of understanding of how credit files and identities work. While there have been more than 100 attempts to use my identity information, none of these recorded in the credit files resulted in any loss for me," Davis said.
"As of today, there have been only four individuals out of over one million LifeLock members who have alleged they are dissatisfied with LifeLock as part of class action lawsuits. However, none of these individuals appear dissatisfied enough to cancel their service or even ask for a refund. In the some of the recent challenges to LifeLock, you have to ask yourself, what is the motivation behind the lawsuits?"
LifeLock is a private company backed by Goldman Sachs, Kleiner Perkins Caufield and Byers, as well as Bessemer Venture Partners. Winner of the 2007 American Business Award for the Best Radio Advertising Campaign, LifeLock was a finalist for 10 other ABA awards, including Best New Company and Best New Product/Service.
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