On December 19, 2016
, the Company’s largest U.S. customer, Chevron, terminated its 10-year relationship with the Company. Then, beginning in March 2017
, numerous news and analyst reports revealed allegations against the Company for a pattern of misconduct involving fraudulent billing, misleading marketing and predatory sales tactics. In May 2017
, Chevron filed a breach of contract lawsuit against the Company relating in part to the Company’s mistreatment of customers. Further, between May 10, 2016
and March 10, 2017
, the Company’s President/CEO/Chairman, CFO and four other directors disposed of 685,720 shares of FleetCor stock at artificially inflated prices, receiving over $108 million
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the U.S. District Court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire
) toll-free at (844) 291-9299 or by email at firstname.lastname@example.org or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.
RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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