Section 20-723. Representations in advertising

No person, firm, corporation
  or association, or agent or employee thereof, doing business in New York
  city, who with intent to sell or in any way dispose  of  merchandise  to
  the  public  through  the  media  of  a  newspaper,  magazine, circular,
  pamphlet, catalogue, store display, letter or handbill shall  advertise,
  state,  set  forth,  print,  publish  or cause directly or indirectly or
  permit directly or indirectly, so to be done in  any  of  the  aforesaid
  media,  any  of  the  following  or  anything  approximating  any of the
  following:
    (a) That the merchandise offered as  aforesaid  is  being  offered  at
  "wholesale price" or at "manufacturers' cost" or "less than cost" or any
  similar  language,  unless  such  representations  are true in fact; nor
  shall any such person, firm or corporation or association, or  agent  or
  employee  thereof,  doing  business in New York city, offer for sale any
  product at a price purported to be reduced from  what  is  a  fictitious
  "list"  or  "selling" or "retailer's suggested" price, or at a purported
  reduction in any such price when such purported  reduction  is  in  fact
  fictitious.
    (b)  That the merchandise offered as aforesaid is being offered on the
  basis of  comparative  prices  or  percentage  savings,  or  similar  or
  analogous  claims  by  the  use  of  such terms as "comparable value" or
  "comparable retail value," without denoting, defining or describing  the
  standard of comparison.
    (c)  That  the  merchandise  offered  as aforesaid is being offered as
  "made to sell for", or being "worth" or "valued  at,"  a  certain  price
  greater  or  more  than  the  price  sought, or by the use of similar or
  analogous statements unless such claim  or  representation  is  true  in
  fact.