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?”

About LifeLock®

Famous for its CEO giving out his Social Security Number in advertising and national press, the company is experiencing strong growth. Located in a secure facility in Tempe, Arizona, LifeLock® (www.lifelock.com) 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. Recently the company was named recipient of the Red Herring 100 Global Award as one of the Top 100 start-up’s in the world and was listed among the finalists for the Best Places to Work in 2007 by the Phoenix Business Journal.