The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Georgia on behalf of investors who purchased FleetCor Technologies, Inc. (NYSE : FLT) securities between February 5, 2016 and May 2, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company misled investors regarding the sources of and reasons for its earnings and growth; (2) the Company falsely stated that it clearly discloses its fees to customers and that its business is focused on helping employers control spending and save money. On March 1, 2017, Capitol Forum published an article describing how FleetCor's business model relies on overcharging customers and padding fee income through late fees even when customers pay on time. Then on April 4, 2017, Citron issued a report accusing FleetCor of being a "predatory company by design, whose core strategy is to methodically rip off its customers..." Then on April 27, 2017, Citron released another report explaining that FleetCor had allegedly developed a scheme to categorize its customers based on the level of improper fees the Company could charge without customer complaint.
If you suffered a loss in FleetCor Technologies, Inc. you have until August 14, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.