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LifeLock CEO Finds Identity Under Attack From Lawyers

TEMPE, Ariz.--(BUSINESS WIRE)--LifeLock CEO Todd Davis has become famous for his commercials where he offers his social security number to demonstrate how confident he is in his company's identity theft protection program. However, recently, his identity protection program has come under attack - not from identity thieves, but from trial lawyers.

"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."

According to the FTC, nearly 3% of Americans are victims of identity theft each year. With over one million LifeLock members, you could expect LifeLock to have 30,000 victims. But as clear evidence LifeLock really works, only 105 individuals have been the victim of identity theft. In fact, among the 105 who have reported an identity theft, every single one has been covered under the LifeLock service guarantee.

As the industry leader in identity theft protection, LifeLock proactively protects identities with a number of measures including: Internet monitoring for illegal sale of member's identity information, active monitoring for illegal changes of member addresses, requests on behalf of its members that the national credit bureaus place fraud alerts on its members' credit files, and requests that members' names be removed from pre-approved credit card offer and junk mail lists. Backing these proactive protections is a $1 million service guarantee to restore the identity and pay all direct costs and expenses resulting from the identity theft.

Recent claims have suggested that Davis' social security number has been used at least 20 times to obtain drivers licenses and other credit. Davis explained, "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. However, a check cashing company failed to properly follow procedures and verify the identity of a thief in 2007, resulting in a person being able to cash a check for $500. Let's be clear, there is currently no form of identity protection that would prevent this from happening, but this is why LifeLock serves such an important protection for consumers. The LifeLock guarantee served me as it serves all LifeLock members, what identity theft LifeLock can't prevent, it will fix at LifeLock's expense up to one million dollars."

"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. We have done an excellent job of serving all our members and even those four people must agree. We vigorously contest all the spurious allegations made by these trial lawyers. We have already asked two federal judges to dismiss claims in the cases before them, and plan to ask every judge to dismiss the claims in all other cases that may be filed. In the some of the recent challenges to LifeLock, you have to ask yourself, what is the motivation behind the lawsuits?"

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I support LifeLock and companies like theirs that are trying to be part of the solution -and not the problem.

Any attempt to put a company out of business which has proven itself to be effective against fraud and identity theft is a disservice to the public, the employees, and subscribers who count on them.

If a company offers to take proactive measures to prevent fraud, and offers to restore my identity if it were to be stolen-that's a value to me. And it should be my choice whether or not I want to engage their services.

As a longtime consumer advocate who has been passionate about consumer protection and the need to be proactive, informed and educated about matters of fraud, credit and consumer rights, rest assured, if I was to find that LifeLock didn't fulfill their promises to protect and restore a consumer's credit identity once notified there was a problem, I would be the first person to tell you about it!

But until that day comes, I will continue to subscribe to their services.

The truth is, Todd Davis and LifeLock are not the bad guys.

For more info read:
Experian the Pot Called. It wants its Kettle Back

Who REALLY profits from identity theft?

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