A class action has been filed against LifeLock, the identity protection company whose CEO is so confident in the credit report fraud alerts it places that CEO Richard "Todd" Davis puts his Social Security Number in the company advertisements) The suit says that Lifelock misrepresents the level of security that the company provides, and its "$1 million guarantee" in case of identity theft is a bunch of hooey. In addition, it says the CEO's personal information is currently being misused by at least 20 different identity thieves. Not surprising coming from a company that was founded based on an idea one of the co-founders had while sitting in a jail cell for an unpaid $16,000 gambling debt.

N.J. Class Action Lawsuit Filed Against LifeLock Alleging Deceptive Marketing Regarding Limited Level of Protection Against Identity Theft [CNBC]