Network solutions settles ftc charges
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VeriSign Inc.’s Network Solutions unit, the world’s biggest Internet-address seller, settled Federal Trade Commission charges of tricking consumers into transferring their Web names to the
company for a fee. The unit last year sent out notices made to look like they came from a consumer’s registrar and saying a registration would expire soon, when that in fact wouldn’t happen
for months or years sometimes, the FTC said on its Web site. VeriSign’s shares fell 97 cents to $13.72 on Nasdaq. The settlement bars Network Solutions from misrepresenting to consumers that
a Web name is about to expire and that a name transfer is just a renewal. The company also must pay $225,000 in attorneys’ fees and other costs and expenses. MORE TO READ