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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of May 13, 2020 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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December 12, 2019 - The court preliminarily approved the settlement.
November 07, 2019 - A stipulation of settlement was filed by the parties.
May 15, 2018 - The court granted in part and denied in part defendants' motion to dismiss.
November 27, 2017 - A motion to dismiss the amended complaint was filed.
October 13, 2017 - An amended complaint was filed.
June 14, 2017 - An investor in shares of FleetCor Technologies Inc (NYSE: FLT) filed a lawsuit in the U.S. District Court for the Northern District of Georgia over alleged violations of Federal Securities Laws by FleetCor Technologies Inc in connection with certain allegedly false and misleading statements made between February 5, 2016 and May 2, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of FleetCor Technologies Inc (NYSE: FLT) common shares between February 5, 2016 and May 2, 2017, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between February 5, 2016 and May 2, 2017 FleetCor Technologies Inc misled investors with regard to the sources of and reasons for its earnings and growth and that FleetCor Technologies Inc falsely stated that FleetCor Technologies Inc discloses its fees to customers clearly and that it focuses its business on helping employers control spending and save money, while the Company in reality owes its ostensible success to overcharging customers, disseminating misleading marketing materials, and engaging in predatory sales practices, and that FleetCor Technologies Inc's contracts did not clearly disclose the Company's fees and FleetCor Technologies Inc's improper business practices did not help customers control spending or save money.
FleetCor Technologies Inc reported that its annual Total Revenue rose over $1.7 billion in 2015 to over $1.83 billion in 2016 and that its Net Income increased from $362.43 million in 2015 to $452.38 million in 2016. Shares of FleetCor Technologies Inc (NYSE: FLT) reached in 2016 as high as $173.70 per share.
On May 1, 2017 FleetCor Technologies Inc reported its first quarter 2017 financial results and issued its fiscal-year 2017 outlook. Shares of FleetCor Technologies Inc (NYSE: FLT) declined on May 3, 2017 to $121.52 per share.
On June 15, 2017, NYSE: FLT shares closed at $144.51 per share.