LifeLock

www.4-traders.com/LIFELOCK-INC-11626745/...Workplace-20518515/

LifeLock Introduces Identity and 401(k) Theft Protection for the Workplace

LifeLock, Inc. (NYSE:LOCK), an industry leader in proactive identity theft protection, today announced its newest product, LifeLock Benefit Elite™ identity theft protection, created specifically for employers and brokers to offer as a benefit for employees. With easy enrollment and convenient payroll deduction, this new product will be available for employees at a competitive price.

LifeLock Benefit Elite™ protection is aimed squarely at what matters to employees – helping protect their identities and helping protect their nest eggs. While most employees have a 401(k), many may set it and forget it – which means they could miss important cues that may indicate potential fraud. LifeLock Benefit Elite protection helps detect potential fraud and brings it to the attention of employees through alerts within the company’s network via email, text or phone. The company’s network, however, does not cover all transactions.

“I can think of few things more important to protect than life savings,” said Todd Davis, CEO of LifeLock. “That’s why we’re putting a huge emphasis on helping employers and brokers offer this critical service, including providing visibility into potentially fraudulent activity with employees’ retirement accounts.”

Available only through employers, LifeLock Benefit Elite protection helps protect 401(k) and other investment accounts from fraudulent withdrawals and balance transfers. LifeLock also searches over a trillion data points every day for potential threats to its members’ personal identity, including suspicious uses of name, address, phone number, birth date, and Social Security number to obtain loans, credit and services, or to commit crimes.

If an employee becomes a victim of identity theft while a LifeLock member, LifeLock will spend up to $1 million to hire the necessary lawyers, accountants and investigators to help with recovery. The benefits under the Service Guarantee are provided under a Master Insurance Policy underwritten by State National Insurance Company. As this is only a summary policy the terms and restrictions can be found at LifeLock.com/legal.

Since 2008, LifeLock has been offering its identity theft protection products to employers with employee benefit payroll deduction. With LifeLock Benefit Elite protection, LifeLock will offer an even better way for organizations to address the needs of their employees and for brokers to stay relevant to their clients.

In 2014 losses from identity fraudsters was $16 billion, and there were 12.7 million U.S. consumer victims of identity fraud, according to a study by Javelin Strategy & Research. With a new identity fraud victim every two seconds, identity theft can be a problem for many consumers.

finance.yahoo.com/news/...rrisdale-capital-went-204155799.html

On Thursday, Kerrisdale Capital confirmed with Benzinga a new long position in Lifelock Inc (NYSE: LOCK), pushing shares up as high as 4 percent.
The fund disclosed a passive position of ~2 percent of shares outstanding.
Chief Investment Officer and founder Sahm Adrangi said the company has the potential to be a "multibillion dollar company" in the future.
Shares of Lifelock have lost nearly 50 percent of their value year to date due to ongoing concerns relating to a lawsuit with the Federal Trade Commission that could result in a sizeable financial penalty.

In light of the ongoing FTC overhang, Kerrisdale Capital's Sahm Adrangi confirmed to Benzinga that his investment fund has acquired a passive position of approximately 2 percent of shares outstanding. The stock closed Thursday's trading up 1.5 percent.

Adrangi, who thinks Lifelock could be a "multibillion dollar company" one day, said he's "happy to own a company generating $50m-$100m FCF that [he's] predicting will continue to grow." Kerrisdale has a passive 2 percent stake in the near $900 million market cap company.

According to Adrangi, the short thesis against Lifelock is "deeply flawed." The CIO added his firm has conducted several channel checks that aid a long-term bullish thesis.

'Renewed Debate'

Acknowledging how controversial Lifelock shares are, Adrangi said he looks forward to a "renewed debate" on the company, adding that "no one knows what the final settlement number looks like." Lifelock previously paid $12 million to the FTC 2010.

Adrangi gives three reasons the next settlement might not be as bad as bears think:

1. "[L]arge settlements relative to size of company, for businesses that the FTC doesn't want to shut down, are very uncommon."

2. [L]arge FTC settlements north of $100m, for businesses that the FTC doesn't want to shut down, are very uncommon."

3. "[T]he specific charges that the FTC has brought against LOCK are just not that serious."

What's Next?

Of course, the FTC could theoretically bring additional charges against Lifelock, but Kerrisdale and Adrangi don't think that will happen. "Alert throttling is bad, but explainable, and it's not a $500m offense," he wrote, adding that no customer data was compromised.

"But to a reasonable observer -- or FTC official who is simply trying to curtail wrongdoing and make an example of someone so other wrongdoers stop their own bad practices -- a $150m settlement seems very punitive given all the facts," Adrangi concluded. A settlement twice that amount would be "atypical."

In fact, in a worst-case $300 million settlement scenario, Lifelock shares would trade at 10 times free cash flow, "cheap" considering the company's growth propsects.

www.fool.com/investing/general/2015/12/01/..._campaign=article

Some companies are getting into the holiday spirit by going shopping. LifeLock (NYSE:LOCK) is doing exactly that, announcing yesterday after the market close that it will be spending $100 million to repurchase its own stock. The board's authorization doesn't have a timeline attached to it, but LifeLock expects to have the buyback complete within a year.

It's a pretty big move for a company of LifeLock's size. If completed near today's pricing, it will reduce the outstanding shares count by 7%. Let's go over some of the reasons why the leading provider of proactive identity theft protection services is betting on itself.

1. LifeLock's stock is out of favor
Shares of LifeLock have been on fire in recent months. The stock has more than doubled since bottoming out at $7.18 in August. This may seem like an odd time to be buying back its stock, but LifeLock stock is still down 22% so far in 2015.

The shares were rocked this summer after the Federal Trade Commission accused LifeLock of violating a 2010 order pertaining to deceptive marketing claims. The FTC also claimed that the company wasn't doing a good job of protecting sensitive subscriber data, something that obviously doesn't look good for a company that's supposed to prevent identity theft.

LifeLock has managed to rise above the muck. It reached a settlement with the FTC, and it managed to post another quarter of sequential growth in terms of revenue and subscriber count. This keeps an impressive streak of what is now 42 quarters alive. LifeLock has overcome the development that rocked the stock this summer, but the stock is still trading well below where it was earlier this year. The stock may have doubled, but it's still a compelling time for LifeLock to invest in itself.

2. LifeLock's good for the money
LifeLock has a strong balance sheet. It has $332.2 million of cash and short-term investments on its books, and it's not carrying any long-term debt. It's a balance sheet that shaves its nearly $1.4 billion in market cap down to less than $1.1 billion in enterprise value. Why wouldn't it spend less than a third of that to support its suppressed share price?

One can always argue that a better use for its cash would be to snap up smaller players in this fragmented niche or expand into related categories. With 4.1 million paying subscribers on its rolls, it only makes sense. However, LifeLock has been hit or miss with its deals. Snapping up ID Analytics three years ago helped fortify its intellectual property, but buying mobile wallet platform Lemon a year later opened up a can of worms when the mobile app was pulled on concerns that it may not be fully compliant with industry security standards. Either way, it has enough money -- and it's generating enough money -- to keep buying back stock as well as other companies.

3. LifeLock will be able to improve its profitability on a per-share basis
The two primary goals of a buyback are to support a stock's price if the purchases are to take place in the open market and to improve earnings on a per-share basis. Analysts see LifeLock earning $0.77 a share next year, but that figure is based on its 95.5 million shares outstanding. If it's able to whittle that down by roughly 7% -- sooner rather than later -- it will improve reported earnings that are divided into 7% fewer shares.

With meager interest rates being paid on idle cash, it's no surprise to see so many board rooms authorizing buybacks. It's the right call for LifeLock.

finance.yahoo.com/news/...e-recognizes-lifelock-140000921.html

Company Joins Online Trust Audit Honor Roll for Best Practices

LifeLock, Inc. (LOCK) announced that it has been recognized by the Online Trust Alliance (OTA) for its security and privacy practices and been named to the 2015 OTA Online Trust Audit Honor Roll. Conducted annually, the Online Trust Audit is a benchmark audit of a company’s commitment to security, privacy and consumer protection. It recognizes brands, websites and applications that implement security and privacy practices to help ensure users’ data is protected.

“As consumers’ digital footprint and data is of increasing value to cybercriminals, qualifying for the Honor Roll represents an organization’s commitment to not only help secure their data, but to also to embrace responsible privacy practices,” said Online Trust Alliance Executive Director & President Craig Spiezle. “Qualifying for the Honor Roll speaks to LifeLock’s pledge to embrace data protection and privacy enhancing best practices.”

The Online Trust and Honor Roll Audit is a comprehensive evaluation of a site’s and mobile applications best practices in brand and consumer protection, security and privacy. This annual comprehensive audit underscores the importance of continued monitoring of security and privacy practices and the risks of becoming complacent. Now in its seventh year, the 2015 Online Trust Audit Honor Roll expands to a broader set of privacy and security enhancing criteria reflecting input from over 100 companies, consumer advocates and security professionals.

LifeLock’s commitment to security and privacy

LifeLock is firmly committed to protecting its members’ information through disciplined application of current security best practices. The company continually invests in its people, processes and systems to ensure its members’ data is protected against ever more complex and pervasive threats. LifeLock uses multiple layers of security controls and defenses designed to detect suspicious activity and block attacks. It leverages strong encryption technology to protect personal information and financial records and limits the information that its member services agents have access to, including financial account and credit card numbers.

In addition to the OTA Online Trust Audit, LifeLock is audited annually by independent experts for PCI Level 1 Merchant and Service Provider, SOC 2 Type 2 and Sarbanes-Oxley compliance. The company performs frequent internal audits and risk assessments that protect our members’ data.

fortune.com/2016/01/20/...ider-ceo-lifelock/?xid=yahoo_fortune

Former Top Yahoo Exec Hilary Schneider Promoted to CEO of LifeLock

Earning the corner office is “about having the swagger,” says the new chief.

Hilary Schneider, who rose to Silicon Valley prominence in the early 2000s during her tenure as Yahoo’s EVP of Americas, has been named CEO of identity theft protection company LifeLock  LOCK 1.98% . Currently the company’s president, Schneider will succeed Todd Davis as CEO, effective March 1.

Schneider joined LifeLock as president in 2012, during the company’s IPO roadshow. “I see this as the right place, right time opportunity,” Schneider told Fortune, in her first interview about the promotion. “Taking the time to understand and listen and learn was critical in realizing the extent of this market opportunity.”

According to a statement by the company, Davis, LifeLock’s co-founder and current CEO, will become executive vice chairman of the board, while lead director Roy Guthrie will become chairman. Schneider will also be appointed to the board.

Schneider credits Davis and the board with giving her the opportunity to lead. “Todd’s been very committed to diversity in this organization,” she says. “And a big call out to our board of directors who felt very comfortable to not only have hired me as president but also to give their approval to me as CEO.”

The new CEO takes the helm at a critical time in the company’s history. Just last month, LifeLock paid $100 million in settlement charges to the Federal Trade Commission for failing to comply with a 2010 federal court order requiring that the company properly safeguard sensitive personal data like Social Security, credit card, and bank account numbers. Moreover, the regulators alleged that LifeLock had lied to consumers about keeping consumer data secure.

“With LifeLock well positioned for continued success, the FTC matter concluded, and Hilary ready to assume the role of CEO, this is the right time to move forward with this succession plan,” said Davis in a statement.

As a female CEO of a major publicly traded company, Schneider is in the minority. Currently, there are 22 women CEOs in the Fortune 500. On January 31, when TJX Companies  TJX -1.01%  CEO Carol Meyrowitz steps down, that number will drop down to 21. (To read more about female CEOs, check out the Broadsheet, Fortune’s daily newsletter about the most powerful women in business.)

Schneider’s advice for other women gunning for the top job? “It’s about having the swagger,” she says. “Even when you may not feel it.”