RagingBull.com, LLC
Also known as: Raging Bull.
The FTC alleged that RagingBull.com used deceptive earnings claims to sell stock-trading subscriptions and made cancellation difficult. The company and its owners settled for $2.425 million, and a later order resolved claims against a remaining defendant.
Resolved. Refunded, settled, ceased operating, or the claim did not hold up. Kept for the record.
Identity
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- Registrations
- FTC v. RagingBull.com, LLC (FTC federal court action, 2020)
- Jurisdictions
- United States (federal)
Stock trading subscription case ended in court orders
RagingBull.com sold stock and options trading services through recurring subscriptions. The FTC alleged that the company marketed those services with deceptive earnings claims, including statements that customers could double or triple their trading accounts quickly and easily. A release about the FTC’s 2020 complaint says consumers lost at least $137 million over three years. The complaint also alleged that the company lacked a basis for claims about typical subscriber results.
The FTC further alleged that quarterly or annual subscriptions were difficult to cancel. Different services had different cancellation requirements, and some customers encountered long hold times, disconnections, or renewal charges they did not want.
In 2022, RagingBull.com, related companies, Jason Bond, and Jeff Bishop agreed to a settlement requiring $2.425 million. The order restricted unsupported earnings claims, required express informed consent for recurring subscriptions, and required a simple cancellation method. In March 2023, the FTC reported sending nearly $2.4 million through 9,862 payments.
The case continued against Kyle Dennis. The FTC alleged that his stock tips cost consumers more than $40 million and that he personally received more than $13.6 million. A 2023 stipulated order permanently restricted him from making unsupported earnings representations or other false or misleading marketing claims.
What is not established
The company and individual defendants resolved the matter through stipulated orders. The supplied releases do not report admissions of wrongdoing. The $137 million figure comes only from the RagingBull.com paragraph of the 2020 sweep release; amounts reported for other sweep defendants are excluded.
Sources
Every claim above rests on one of these. Open them and check.
- Enforcement action December 14, 2020
- Enforcement action March 8, 2022
- Enforcement action March 6, 2023
- Enforcement action September 8, 2023
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First recorded December 14, 2020 · Last updated September 8, 2023