FTC to collect 80% of proceeds from Pantron I founder's Ch. 7 bankruptcy liquidation.
This article was originally published in The Rose Sheet
Executive Summary
HELSINKI FORMULA SETTLEMENT WITH FTC MEANS PANTRON LIQUIDATION PROCEEDS will go to the commission, according to a final judgment and permanent injunction filed in Los Angeles federal court on Feb. 11 and announced by the Federal Trade Commission Feb. 12. The monetary settlement is intended to be used toward establishing a consumer redress program for purchasers of Pantron I's Helsinki Formula antibaldness product. The judgment also supports FTC's contention that Pantron made "false and deceptive" antibaldness claims for Helsinki Formula.