It should also give consumers easy ways on stopping recurring charges. There are inherent risks involved with investing in the stock market, including the loss of your investment. According to their report, some people groups were highly vulnerable to scammers: In the said press release, the FTC reported four new cases. The .gov means its official. The first moment Raging Bull knew about the FTC lawsuit was when the FTC made their "emergency" filing in court on December 7, 2020. These cookies will be stored in your browser only with your consent. A spokesperson for the FTC did not respond to a request for an interview. Trader and co-founder of RagingBull.com, Jeff Bishop has a net worth of $3 million in 2021. Especially noteworthy, the FTCs case relied wholly on a purported expert who did not understand trading and grossly misstated the trading performance of the companys top educators, and, without any data on Raging Bulls consumer demographics, painted the company as targeting vulnerable individuals, including immigrants and retirees. Two months after the court approved their business plan, they emailed their subscribers. The FTC said it has banking records confirming that Bond and Bishop have been collecting millions of dollars per month . Raging Bull chose the latter, and those discussions eventually resulted in a negotiated settlement without any admission of liability on a theory of liability mostly unrelated to the FTCs core allegations for a fraction (about 2%) of the amount that the FTC had first sought in its misguided suit. What . Raging Bull Defendants' operation of the Company shall be in compliance with provisions of this Order, including the Business Plan as incorporated herein. In December 2020, the FTC filed a lawsuit against RagingBull.com, accusing them of defrauding customers out of $137 million over the last three years! We work to advance government policies that protect consumers and promote competition. The Federal Trade Commission has recently filed a lawsuit in Maryland federal court against subscription stock trade advice website Raging Bull. Sam Hananel, Associated Press.
