Pre-Paid Legal Services says FTC may sue

ADA, Okla. — Pre-Paid Legal Services Inc., a network of independent law firms, said Thursday that the Federal Trade Commission may sue the company over allegedly misleading representations made by its identity theft prevention program.

The news sent the stock plummeting 19 percent to close at $33.27.

The identity theft program offers regular monitoring of credit reports, sending alerts if new accounts are opened in a customer's name or if negative items are added to credit reports. It also offers to help a customer restore their credit rating if they are a victim of identity theft.AP