Software company Adobe disclosed it could face “significant monetary costs or penalties” resulting from an ongoing Federal Trade Commission (FTC) investigation into its disclosure and subscription cancellation practices.
In a regulatory filing Wednesday, Adobe said it was notified by the FTC in November that it could face consent negotiations to determine a settlement regarding potential violations of the Restore Online Shoppers’ Confidence Act. The act “prohibits any post-transaction third-party seller … from charging any financial account in an internet transaction unless it has disclosed clearly all material terms of the transaction and obtained the consumer’s express informed consent to the charge.”
