The internet is a huge business for Conrad Industries.
Its a $1.4 trillion company with $700 billion in revenue last year.
But the internet also has a dark side, as the media giant has been embroiled in allegations of corporate misconduct.
In May, Conrad Industries was ordered to pay $5.2 million to the United States government to settle a federal lawsuit alleging that it engaged in “predatory pricing” for advertising in a number of key digital media platforms, including Facebook and YouTube.
The Justice Department alleged that the firm “exchanged favorable terms, discounts, and incentives for the placement of advertisements on these platforms for their own commercial gain.”
A year ago, a federal judge ordered Conrad Industries to pay the government $5 billion over claims that it misclassified a product as a “pre-owned” product for advertising purposes.
The judge found that the company’s conduct violated the Fair Credit Reporting Act.
Last month, a judge also ordered Conrad to pay a $3.5 billion fine to settle claims that the social network used data mining and targeted advertising to target consumers.
The court said that the “false advertising” was “the result of Conrad’s deceptive and manipulative marketing strategies.”
According to court documents, Conrad also allegedly misled consumers about the quality of its own products and services.
The company has been sued in two other cases related to the matter.