By Denny Jacob

Adobe said it could face significant costs or penalties tied to a Federal Trade Commission probe into its disclosure and subscription cancellation practices.

The software maker said on Wednesday that it has been cooperating with FTC staff since June 2022 seeking information tied to its practices as it relates to the Restore Online Shoppers' Confidence Act, according to a regulatory filing.

Adobe said FTC staff in November asserted that they had the authority to enter into consent negotiations to determine if a settlement regarding their investigation of these issues could be reached. The San Jose, Calif.-based company said it believes its practices comply with the law and is currently engaging in discussion with FTC staff.

Adobe didn't immediately respond to a request comment.

Adobe on Wednesday also reported its fourth-quarter results and gave guidance for the current quarter and fiscal year.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

December 13, 2023 17:20 ET (22:20 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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