The US Federal Trade Commission said on Tuesday that heavily promoted identity theft prevention company LifeLock agreed to pay it and 35 states $12m to settle their accusations that it deceived consumers with a bogus $1m “guarantee” that it would stop fraud in their names.

The FTC’s legal complaint is the latest in a series of embarrassments for the Arizona company, which charges $10 a month and seared itself into the public’s mind with ads featuring the likes of former Sen. Fred Thompson, Howard Stern and Rush Limbaugh. Read more