Investment Site to Pay FTC $2.4 Million for Earnings Deception

Raging Bull used false earnings claims to influence consumers to sign up and then trapped them with subscription plans that were difficult to cancel and costly, the Federal Trade Commission announced Tuesday.

The FTC filed a lawsuit alleging that Raging Bull marketed its stock and options trading services to consumers with earnings claims made on no basis since the company did not track customers’ trading results.

The proposed settlement order requires the settling defendants—RagingBull.com LLC, Sherwood Ventures LLC, Jason Bond LLC, Jason Bond, and Jeff Bishop—to pay $2.4 million to the FTC and prohibits any future false potential earnings claims. ...