Federal Trade Commission v. Warrior Trading, Inc. et al
| Federal Trade Commission |
| Warrior Trading, Inc., Warrior Operating Inc. and Ross Cameron |
| 3:2022cv30048 |
| April 19, 2022 |
| US District Court for the District of Massachusetts |
| Mark G Mastroianni |
| Other Statutory Actions |
| 15 U.S.C. ยง 0045 Federal Trade Commission Act |
| None |
Docket Report
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| Filing 6 Judge Mark G. Mastroianni: ORDER entered. CONSENT JUDGMENT in favor of Federal Trade Commission against Warrior Operating Inc., Warrior Trading, Inc.(Zamorski, Michael) |
| Filing 5 Judge Mark G. Mastroianni: ELECTRONIC ORDER entered ALLOWING #2 Assented-to Motion to Approve Consent Judgment. After reviewing the proposed consent decree, motion, and the Complaint, the court finds the decree is fair, adequate, reasonable, and consistent with the objectives of Congress. See Conservation Law Found. v. Franklin, 989 F.2d 54, 58 (1st Cir. 1993). Plaintiff Federal Trade Commission alleges violations of Section 5(a) of the Federal Trade Commission Act, 15 U.S.C. 45(a) and rules promulgated by the FTC pursuant to the Telemarketing Act, 15 U.S.C. 6101-6108. Specifically, Defendants are alleged to have made deceptive earnings claims and material misrepresentations as to investment opportunities by telemarketing and advertising their day-trading strategies and related products to consumers online. The consent decree generally provides as follows: Defendants will pay a judgment of $3,000,000.00 to the FTC; Defendants are permanently enjoined from making misrepresentations and misleading earnings claims in telemarketing; and Defendants will engage in specified recordkeeping and compliance reporting. The court notes there is no evidence to indicate the parties acted other than at arms' length and in good faith in reaching the settlement. See United States v. Comunidades Unidas Contra La Contaminacion, 204 F.3d 275, 281 (1st Cir. 2000). Moreover, the decree appears substantively fair and consistent with the objective of Congress in light of the claims brought and Defendants' ensuing obligations. The First Circuit has recognized the "strong public policy in favor of settlements, particularly in very complex and technical regulatory contexts. Moreover, such a policy has added bite where the settlement has been advanced for entry as a decree by a government actor 'committed to the protection of the public interest' and specially trained and oriented in the field," such as the FTC. See Comunidades Unidas, 204 F.3d at 280 (quoting United States v. Cannons Eng'g Corp., 899 F.2d 79, 84 (1st Cir. 1990)) (internal citation omitted). (Zamorski, Michael) |
| Filing 4 Summons Issued as to Ross Cameron, Warrior Operating Inc., Warrior Trading, Inc.. Counsel receiving this notice electronically should download this summons, complete one for each defendant and serve it in accordance with Fed.R.Civ.P. 4 and LR 4.1. Summons will be mailed to plaintiff(s) not receiving notice electronically for completion of service.. (Finn, Mary) |
| Filing 3 ELECTRONIC NOTICE of Case Assignment. Judge Mark G. Mastroianni assigned to case. If the trial Judge issues an Order of Reference of any matter in this case to a Magistrate Judge, the matter will be transmitted to Magistrate Judge Katherine A. Robertson. (Danieli, Chris) |
| Filing 2 MOTION to Approve Consent Judgment by Federal Trade Commission. (Attachments: #1 Text of Proposed Order)(Barth, Suzanne) |
| Filing 1 COMPLAINT against All Defendants (Fee Status: US Government), filed by Federal Trade Commission. (Attachments: #1 Civil Cover Sheet, #2 Warrior Trading, Inc. Summons, #3 Warrior Operating Inc. Summons, #4 Ross Cameron Summons)(Barth, Suzanne) |
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