The Klein Law Firm Reminds Investors of a Class Action Filed on Behalf of FleetCor Technologies, Inc. Shareholders & a Lead P...
July 06 2017 - 1:37PM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of FleetCor Technologies, Inc.
(NYSE:FLT) who purchased shares between February 5, 2016 and May 2, 2017. The action,
which was filed in the United States District Court for the
District of Georgia, alleges that the Company violated federal
securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants 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. 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.
Shareholders have until August 14, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sb/fleetcor-technologies-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170706005995/en/
The Klein Law FirmJoseph Klein, Esq., 212-616-4899Fax:
347-558-9665www.kleinstocklaw.com
FleetCor Technologies (NYSE:FLT)
Historical Stock Chart
From Aug 2024 to Sep 2024
FleetCor Technologies (NYSE:FLT)
Historical Stock Chart
From Sep 2023 to Sep 2024