FTC Takes Action Against Adobe (ADBE) and Executives for Hiding Fees, Preventing Consumers from Easily Cancelling Software Subscriptions
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/8/2026
- Wall St futures slip as oil surge puts markets on edge
- Brent crude hits six-week high near $97 as Houthi strike targets Saudi Aramco
- US nonfarm payrolls blow past expectations in August; unemployment rate steady at 4.1%
- Novartis shares plunge 10% as failed drug trial clouds growth outlook
- BofA's Hartnett says stay long commodities and gold as 'policy panic' works
- After-Hours Movers: LULU, IOT, PATH, DOCU, ASAN, GWRE, ZS, PL, SWBI, OXM
- After-Hours Movers: AVGO, SNOW, HPE, NTAP, NTSK, CHPT, FIVE, TLYS, PVH, RARE
- After-Hours Movers: DELL, PANW, GTLB, CRDO, MDB, HPE, SMCI
- After-Hours Movers: WDAY, ADSK, S, RBRK, MRVL, ULTA, GAP, AFRM
- After-Hours Movers: NVDA, CRM, SNPS, CRWD, OKTA, NTNX
Adobe Systems (ADBE) falls as U.S. sues over subscription plan disclosures
June 17, 2024 12:44 PM EDTShares of Adobe Systems (NASDAQ: ADBE) fell over 2% Monday after the U.S. government sued the company. In addition, the Federal Trade Commission (FTC) also said it is taking action.
They accuse the Photoshop and Acrobat owner of hurting customers by registering them in its most lucrative subscription plans without clearly disclosing important terms.
The government filed a complaint in the San Jose, California,... More
US sues Photoshop maker Adobe for hiding fees, making it difficult to cancel
June 17, 2024 11:18 AM EDTBy Jonathan Stempel
(Reuters) -The U.S. government sued Adobe on Monday, accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees in its most popular subscription plan, and making it difficult to cancel subscriptions.
In a complaint filed in the San Jose, California, federal court, the Federal Trade Commission said Adobe buries the fees, which sometimes reach hundreds of dollars, and other important terms in its "annual paid monthly" subscription plan in the fine print, or behind textboxes and hyperlinks.
According to the complaint, Adobe... More
