A notorious Georgia entrepreneur, his dietary supplement company, and two other executives were ordered by a Georgia federal Judge to pay $40.1 million in compensatory sanctions for allegedly violating an injunction in a Federal Trade Commission (FTC) lawsuit. Hi-Tech Pharmceuticals CEO Jared Wheat, Senior Vice President Stephen Smith, and Dr. Terrill Mark Wright, had been barred from making unsubstantiated claims about Hi-Tech’s diet pills but violated the permanent injunction by printing misleading advertisements about four of Hi-Tech products. “The record is clear that the misrepresentations were material, were widely disseminated, and that consumers purchased these four products,” U.S. District Judge ... Read More
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