Here is a great link to a post that wraps up the entire story from the Citizen's Media Law Project (CLMP) -- it's worth a read.
They also highlight an earlier case where the FTC went after Ann Taylor Loft for creating an affiliate-based offering that provided bloggers with "a special sneak preview" that would then offer them a gift, followed by participation in a drawing for a special gift if they posted about the event. Here's a link to the Citzen's Media Law Project's post on that article.
However, if you're reading this, you might also be interested to note this comment from the CMLP in the Ann Taylor post:
As noted in CMLP's legal guide, after adopting the rule the FTC assured bloggers and social media contributors that it was not likely to pursue them for not following the disclosure guidelines. Instead, the Commission said that it would target the advertisers who offer the freebies (PRNewser; Dow Jones Newswires).For reference, I've also included a link to the CMLP's legal guide, Is the FTC Really Going to Sue Bloggers.