On or around 01/04/2019 (Ongoing date of last review)
Filing Date: June 14, 2017
According to the law firm press release, the Complaint alleges that during the Class Period, FleetCor misled investors with regard to the sources of and reasons for its earnings and growth. The Complaint also alleges that FleetCor falsely stated that the Company discloses its fees to customers clearly and that it focuses its business on helping employers control spending and save money. In truth, the Company owes its ostensible success to overcharging customers, disseminating misleading marketing materials, and engaging in predatory sales practices. In addition, FleetCor's contracts did not clearly disclose the Company's fees and FleetCor's improper business practices did not help customers control spending or save money.
On August 15, 2017, Defendants filed a Motion to Dismiss the Complaint. On August 25, the Court issued an Order appointing Lead Plaintiff and Counsel and denying Defendants' Motion to Dismiss.
Lead Plaintiff filed an amended Complaint on October 13, 2017. On November 27, Defendants filed a Motion to Dismiss the amended Complaint. On May 15, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to dismiss.
Company & Securities Information
Defendant: FleetCor Technologies, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: FLT
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
City of Sunrise General Employees' Retirement Plan , et al. v. FleetCor Technologies, Inc. , et al.