FTC refunds, PBM lawsuit, and SEC filings this week

This week in 60 seconds

• The FTC announced nearly $3 million in refunds for a mortgage relief scheme ^[6].
• The FTC reached a settlement with Express Scripts to lower insulin costs for consumers ^[5].
• IM Mastery Academy defendants agreed to a settlement with the FTC for over $1.2 billion in consumer harm ^[7].
• Jersey Mike's Subs and SK hynix filed documents with the SEC for potential public offerings [1, 4].
• The Justice Department announced new guidelines for administrative expenses in bankruptcy ^[10].

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FTC issues refunds for mortgage relief scam

In one line: The Federal Trade Commission (FTC) is sending almost $3 million to consumers who were tricked by a deceptive mortgage relief program ^[6].

What happened

• The FTC is returning $2,968,858 to people affected by the Golden Home Services, also known as Home Matters USA, scheme ^[6].
• This company falsely promised to reduce mortgage payments for consumers ^[6].

9 million to consumers harmed by a credit repair pyramid scheme ^[6].

Why it matters to you

• If you paid for mortgage relief or credit repair services that seemed too good to be true, you might be eligible for a refund from the FTC. Always be cautious of promises that seem to guarantee financial relief.

Quick facts

• Who is affected: Consumers deceived by Golden Home Services/Home Matters USA mortgage relief scheme ^[6].
• Amount: Nearly $3 million in refunds ^[6].
• How to act: The FTC handles the distribution of funds; check their consumer refunds page for details if you believe you qualify ^[6].

Express Scripts settles insulin cost lawsuit

In one line: The FTC has reached a settlement with Express Scripts, a large pharmacy benefit manager (PBM), to lower insulin drug costs for patients ^[5].

What happened

• The FTC sued three major PBMs, including Express Scripts, for unfair practices that led to high insulin prices ^[5].

• Express Scripts agreed to fundamental changes in its business practices as part of the settlement ^[5].

• This settlement is expected to reduce patients' out-of-pocket insulin costs by up to $7 billion over ten years ^[5].

• It will also bring new revenue to community pharmacies ^[5].

Why it matters to you

• If you rely on insulin, this settlement could mean lower costs for your prescriptions and better access to medications through local pharmacies.

Quick facts

• Who is affected: Patients using insulin and community pharmacies ^[5].
• Amount: Up to $7 billion in potential savings for patients over 10 years ^[5].
• How to act: This is a systemic change; you should see the impact at your pharmacy over time ^[5].

The settlement requires ESI to adopt fundamental changes to its business practices that increase transparency, are expected to drive down patients’ out-of-pocket costs for drugs like insulin by up to $7 billion over 10 years.

IM Mastery Academy scam settles with FTC

In one line: The FTC secured settlements for over $1.2 billion from defendants in the IM Mastery Academy investment and business venture scam ^[7].

What happened

• The FTC, along with the State of Nevada, took action against IM Mastery Academy, also known as IYOVIA and iMarketsLive ^[7].
• The scam involved deceptive investment training and business ventures ^[7].

2 billion by this scheme ^[7].

• Several defendants, including the ringleaders Chris and Isis Terry, reached settlements with the FTC in May and September 2025, and June 2026 ^[7].

Why it matters to you

• This case highlights the risks of multi-level marketing (MLM) schemes and investment programs that promise high returns. Be skeptical of programs that require you to recruit others to make money or guarantee large profits ^[7].

Quick facts

• Who is affected: Consumers who invested in IM Mastery Academy, IYOVIA, or iMarketsLive ^[7].
• Amount: Over $1.2 billion total consumer harm ^[7].
• How to act: If you were affected, keep an eye on FTC announcements regarding victim compensation ^[7].

Jersey Mike's Subs and SK hynix prepare for public offerings

In one line: Jersey Mike's Subs and microchip maker SK hynix Inc. have filed paperwork with the SEC as they prepare to offer shares to the public [1, 4].

What happened

• Jersey Mike's Subs Inc. filed an S-1 registration statement with the Securities and Exchange Commission (SEC) on July 2, 2026 ^[4].

, a company from South Korea, filed an Amendment No. 2 to Form F-1 with the SEC on July 6, 2026 ^[1].

• These filings are key steps for companies planning to sell stock to the public [1, 4].

Why it matters to you

• These filings indicate that new investment opportunities might become available. If you are interested in investing, you can review these public documents to understand the companies' financial health and business plans.

Quick facts

• Who is affected: Potential investors and the general public interested in these companies [1, 4].
• How to act: You can review the registration statements on the SEC's EDGAR database to learn more about the companies before any potential investment [1, 4].

Justice Department updates bankruptcy expense guidelines

In one line: The U.S. Trustee Program (USTP) updated its administrative expense multipliers and IRS data for bankruptcy cases on June 30, 2026 ^[10].

What happened

• The USTP, which is part of the Justice Department, is responsible for overseeing bankruptcy cases ^[10].

• They periodically update numbers used to calculate how much money a person in bankruptcy can keep for living expenses ^[10].

• These updates include administrative expense multipliers and data from the Internal Revenue Service (IRS) standards ^[10].

Why it matters to you

• If you are considering bankruptcy or are currently in a bankruptcy case, these updated figures could affect your financial plan and how much you are allowed to keep for necessary expenses.

Quick facts

• Who is affected: Individuals or businesses considering or currently in bankruptcy proceedings ^[10].

• Deadline to file: The new data was effective June 30, 2026 ^[10].

• How to act: If you are in bankruptcy or plan to file, consult with your bankruptcy attorney to understand how these updated figures affect your case ^[10].

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This weekly briefing is generated from publicly available materials (SEC, FTC, DOJ, CFPB, CourtListener) for informational purposes only and does not constitute legal advice. Verify details with the linked primary sources.