eTrade Gets Sued - Is Lohan the Milkaholic? (ETFC)
March 09, 2010 1:14 PM
Who doesn't love the eTrade (NASDAQ: ETFC) ads with the investing savvy toddlers? According to Nassau County Supreme Court, Lindsay Lohan.
The actress, widely known for her tabloid escapades, is suing for a reported $100 million in compensatory and exemplary damages for eTrade's illegal use of her "name and characterization" without her consent.
Her lawyer argues that her client has one-name recognition, like Madonna or Oprah, and when the 'milkaholic' in the popular eTrade ads is addressed as 'Lindsay', it is clearly referring to Lohan.
While eTrade has declined to comment on the allegations, we will be anxiously awaiting statements from the investing firm. Their shareholders appear unfazed, as shares are up half a percent today to $1.68 per share.
You can view the controversial commercial here
