“Even failing dot-coms must abide by their promise to protect the privacy rights of their customers,” said Chairman Robert Pitofsky. “The FTC seeks to ensure these promises are kept.”
That policy states that:
Personal information, voluntarily submitted by visitors to our site, such as name, address, billing information and shopping preferences, is never shared with a third party.
The policy continues:
When you register with toysmart.com, you can rest assured that your information will never be shared with a third party.
Toysmart’s creditors filed an involuntary bankruptcy petition in the U.S. Bankruptcy Court for the District of Massachusetts, Eastern Division, on June 9, 2000; Toysmart filed its assent to the bankruptcy petition on June 23, 2000. In light of the company’s bankruptcy case, FTC staff may file a notice of appearance and a notice of pending action in the Bankruptcy Court. The Commission vote to authorize staff to file the complaint was 5-0.Details