Marketers fear advertising self-regulation because of the gamut of lawsuits filed in regards to false advertising claims. The lawsuits have been from $300,000 to as much as $5 million where plaintiff lawyers made life miserable for advertising marketers. Eighty class action law suits were filed in 2010 and sixty three lawsuits regarding false advertising were filed in 2009. This information was supplied by NAD, the National Advertising Division. John Villafranco of Kelley, Drye and Warren claimed that the fear of advertising self-regulation is overblown and that the lawsuit cases that he was aware of got dismissed.

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Study: Marketers Have Nothing to Fear From Advertising Self-Regulation – Adweek