The FTC wrote in its letter, dated July 1, 2010, to the counsel of the purchasers that the acquisition of such information would violate the FTC Act, because XY’s sale of subscriber information after XY explicitly promised not to share such information would be an unfair and deceptive act or practice. The FTC requested that XY destroy the subscriber information at issue due to the highly sensitive nature the information. On August 3, 2010, in response to the FTC’s concerns, the U.S. Bankruptcy Court for the District of New Jersey approved the parties’ settlement agreement which stipulated that the information at issue would be destroyed.
Verified Identity Pass
The Bankruptcy Code