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How will Vroom's stock price change by September 30, 2024, following the FTC settlement?
2
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Stock market data from credible financial sources
Story
FTC Takes Action Against Vroom with $1 Million Settlement, Warns Companies on Warranty Practices
Jul 3, 2024, 06:13 PM
The Federal Trade Commission (FTC) has taken action against online used car dealer Vroom for deceiving customers, failing to deliver on time, and not providing required disclosures. Vroom has agreed to a $1 million settlement for consumer redress as of July 2. In a related move, the FTC has warned companies to stop warranty practices that harm consumers' right to repair, specifically targeting the use of 'warranty void if removed' stickers and tying warranties to the use of branded parts. The FTC has sent letters to eight companies regarding these practices as of July 3.
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