Business ProfileforStryder Holdings LLC

Federal Trade Commission v Stryder Holdings LLC
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On January 24, 2024, the Stryder Holdings LLC and owners, Roman Cresto and John Cresto entered into a Stipulated Order for Permanent Injunction and Monetary Judgment with the Federal Trade Commission. The Stipulated Order for Permanent Injunction and Monetary Judgment settles allegations that the business is in violation of federal law prohibiting misrepresentations regarding income or profits and failing to furnish prospective purchasers with a disclosure document and any required attachments, within the time period prescribed by the Business Opportunity Rule. It is also alleged that the business made earning claims to prospective purchasers in connection to business opportunity while lacking a reasonable basis for the earnings claim, lacing written substantiation for the earnings claim, or failing to provide an earnings claim statement to the prospective purchasers. The business allegedly made earnings claims in the general media while failing to state in immediate conjunction with those claims the beginning and ending dates when the represented earnings were achieved; made industry financial, earnings, or performance information in connection with business opportunity while lacking written substantiation demonstrating that the information reflects, or does not exceed, the typical financial earnings f purchasers of the business opportunity being offered for sale. Additionally, under terms of the Order, the business was ordered to permanently restrain and enjoin from advertising, marketing, distributing, promoting, or offering for sale of, any Business opportunity involving management or operation of e-commerce stores in an Online Marketplace or any Business Coaching Program regarding how to manage or operate e-commerce stores in an Online Marketplace. The business was also ordered to permanently restrain and enjoin from making any earning claims or assisting others in making earnings claims unless the Earnings Claim is non-misleading. In addition, the business was also ordered to permanently restrain and enjoin from offering, attempting to enforce, or asserting the validity of, any Prohibited contract provision. Lastly, the business also was ordered to pay monetary judgment in the amount of $21,765,902.65 and agreed to a partial suspension of the judgment.

This action is final.