Fleetcor and FTC Ordered to Mediate $550 Million Deception Case
Corporate fuel payments firm and regulator told to settle case themselves after multiple failed attempts.
November 9, 2022
The FTC and Fleetcor (FLT), a corporate payments and expense management firm, are going to have to determine together how much the company must pay in a years old unfair practices case.
In 2019, the Federal Trade Commission (FTC) filed suit against Fleetcor and its Chief Executive Ronald Clarke, accusing the pair of lying to customers when the company promised it would save truck drivers and fleet managers money on fuel costs. The complaint alleges Fleetcor charged hundreds of millions of dollars in hidden fees.
The redress demanded by the FTC, $550 million, in Fleetcor’s opinion, is unreasonable.
We’ve noted language changes in Fleetcor’s filings over the years suggesting a settlement was possible but learning later no agreement had been reached. In August, the FTC seemingly prevailed with a judge finding the company and Clarke liable, but siding with Fleetcor in denying the FTC’s claim for monetary relief.
In its latest quarterly filing, Fleetcor revealed the judge appears to have punted on the matter, ordering the parties to figure it out among themselves:
“On October 20-21, 2022, the court held a hearing on the scope of injunctive relief. At the conclusion of the hearing, the Court did not enter either the FTC’s proposed order or the Company’s proposed order, and instead suggested that the parties enter mediation. The Company is exploring mediation with the FTC.”
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