Some Ring customers to receive portion of $5.6M in refunds as part of privacy settlement [FOX Business Network]
Amazon.com, Inc. (AMZN)
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Source: FOX Business Network
The FTC said this week that the refunds will collectively amount to over $5.6 million and be spread among more than 117,000 individuals. The money will be sent in the form of PayPal payments. Customers who will receive the refunds include those "who had certain types of Ring devices such as indoor cameras, during periods when the FTC alleges unauthorized users may have had access to customer videos," according to the agency. The refunds are linked to a settlement between the FTC and Ring, which is owned by Amazon. The e-commerce giant acquired Ring in 2018 for $1 billion. Ticker Security Last Change Change % AMZN AMAZON.COM INC. Powered By The agreement between Ring and the FTC, which occurred last year, resolved allegations that the agency lodged against Ring that it had "allowed employees and contractors to access consumers' private videos and failed to implement security protections, enabling hackers to take control of consumers' accounts, cameras, and videos
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AMZN
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- AMZN's page on the SEC website