2xtream and its officers agreed to a stipulated final judgment with the FTC. The judgment granted a permanent injunction against some defendants' participation in a "prohibited marketing program" as that term was defined in the agreement, required that the defendants retain a performance bond before participating in any other MLM program, and enjoined them from making further false misrepresentations when marketing business opportunities. Other defendants were permanently enjoined from participation in MLM activities and required to pay over $2 million in restitution. The judgment also provided for an $80 million payment in the event that the value of any company asset was misrepresented to the FTC. The FTC also required the defendants to submit compliance reporting to the Commission.
The full case and summary are also available at: http://www.mlmlegal.com/legal-cases/FTC_v_2xtreamePerformanceInternationalLLC2000.php
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MLM / Direct Sales Updates, MLM Consulting / Network Marketing Updates
Federal, 5th Circuit, Texas |
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