BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased FleetCor Technologies, Inc. (“FleetCor” or the “Company”) (NYSE: FLT) securities between February 5, 2016 and May 2, 2017, inclusive (the “Class Period”). FleetCor investors have until August 14, 2017 to file a lead plaintiff motion.
Investors suffering losses on their FleetCor investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
Over the course of several weeks, beginning sometime in March 2017, various news sources and stock analysts have accused the Company of overcharging customers and padding fee income through late fees even when customers pay without delay. For instance, Citron Research issued a report, on April 4, 2017, accusing FleetCor of being a "predatory company by design, whose core strategy is to methodically rip off its customers, using business practices and fees that are designed to deceive." In addition, on May 1, 2017, these allegations culminated in Chevron Corporation suing FleetCor in Texas State court for breach of contract resulting from these alleged improper fees.
On each disclosure of the Company’s alleged wrongdoing, FleetCor’s share price declined significantly in value, thereby damaging investors.
The complaint filed in this class action alleges that throughout the Class Period, the Company made materially 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.
If you purchased FleetCor securities during the Class Period you may move the Court no later than August 14, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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