UPDATE 1-Shutterstock to pay $35 million to settle US FTC charges over subscription plans

Shutterstock

Shutterstock

SSTK

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Adds FTC accusations, Shutterstock not available for comment

NEW YORK, May 13 (Reuters) - Shutterstock SSTK.N will pay $35 million to settle U.S. Federal Trade Commission charges that the online provider of stock photography, graphics and videos misled consumers about its subscription plans and made it too difficult to cancel, the FTC said on Wednesday.

The settlement resolved accusations that many Shutterstock subscription plans had complicated and onerous terms that the company deceptively presented as simple.

It also said Shutterstock created obstacles to prevent customers from cancelling its "annual, paid monthly" plans. These allegedly included long phone wait times, multiple follow-up steps for email cancellations, and having to wade through eight pages of materials before cancelling.

Shutterstock and its lawyers did not immediately respond to requests for comment.


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