FTC Obtains Preliminary Injunction Against Investor Training Scheme Online Trading Academy

A federal court has granted the Federal Trade Commissions request for a preliminary injunction to halt the alleged illegal practices of Online Trading Academy (OTA).

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2020/04/ftc-obtains-preliminary-injunction-against-investor-traininghttps://www.ftc.gov/news-events/press-releases/2020/04/ftc-obtains-preliminary-injunction-against-investor-training
Retrieved on: 
Tuesday, April 7, 2020
Information
Tags: 
Equity, Judicial remedies, Government, Law, Corporate crime, Federal Trade Commission, Injunction, Preliminary injunction, Federal Trade Commission v. Vemma Nutrition Company
Summary
Key Points: 
  • A federal court has granted the Federal Trade Commissions request for a preliminary injunction to halt the alleged illegal practices of Online Trading Academy (OTA).
  • Under the terms of the preliminary injunction, the defendants are prohibited from making false, misleading, or unfounded representations to consumers about OTAs training, including earnings claims.
  • The preliminary injunction appoints a monitor to oversee OTAs marketing materials and practices and provide periodic reports to the court on this subject.
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