Shareholder Alert: Robbins LLP Announces FleetCor Technologies, Inc. (FLT) Sued for Violating Federal Trade Commission Act
SAN DIEGO & PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)--Jan 2, 2020--
Shareholder rights law firm Robbins LLP announces that the Federal Trade Commission has filed a complaint against FleetCor Technologies, Inc. (NYSE: FLT) to obtain injunctive relief, rescission or reformation of contracts, restitution, the refund of monies paid, disgorgement of ill-gotten monies, and other equitable relief for alleged violations of the Federal Trade Commission Act. FleetCor provides commercial payment solutions in North America, Latin America, Europe, and Australasia.
If you suffered a loss as a result of FleetCor’s misconduct, click here.
FleetCor Technologies, Inc. (FLT) Accused of Exploitative Business Practices
According to the complaint, FleetCor has marketed its fuel cards, charge cards that customers can distribute to vehicle drivers to purchase fuel and other transportation-related products and services, since at least 2014. FleetCor has enticed businesses to sign up for its fuel cards by making claims that it will allow customers to save money, provide fraud controls from unauthorized transactions, and do not require set-up, transaction, or membership fees. FleetCor failed to mention, however, that many small- and medium-sized business customers do not achieve the claimed per-gallon savings FleetCor advertised, that FleetCor’s fuel cards permit unauthorized purchases of any type of goods available at a fueling site regardless of whether a customer selected “fuel only” status, and that after signing up, many customers are subjected to millions of dollars in unexpected fee charges. As a result of these exploitative business practices, many of FleetCor’s customers have complained to entities like the Better Business Bureau and The Federal Trade Commission, leading to litigation against FleetCor that could potentially damage its investors.
FleetCor Technologies, Inc. (FLT) Shareholders Have Legal Options
Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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SOURCE: Robbins LLP
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PUB: 01/02/2020 01:08 PM/DISC: 01/02/2020 01:08 PM