Angi (ANGI) was ordered by the US District Court for the Southern District of New York to pay roughly $3 million to the Federal Trade Commission for allegedly misleading workers about hourly rates, according to a court filing Tuesday.
The complaint filed by the FTC and and the Attorney General of the State of New York allegedly claims that the company participated in deceptive and unfair acts or practices related to its advertising, marketing, promotion or offering of household job opportunities to consumers.
The court order also prohibits Angi from misrepresenting earnings to independent contractors and requires clear and conspicuous disclosure of all potential fines and fees.
Additionally, the company must obtain express, informed consent from the contractors before imposing any charges, according to the court filing.
Angi did not immediately respond to MT Newswires' request for comment.
Shares of the company were down 2.4% in recent trading.
Price: 1.61, Change: -0.04, Percent Change: -2.42
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.