FLEETCOR Closes Out Chapter in FTC Case
09 Junho 2023 - 10:28AM
Business Wire
FLEETCOR Technologies, Inc. (NYSE: FLT), today announced that it
received the anticipated court order in the FTC marketing practices
and disclosure case. As expected, the court order limits its
injunctive relief to FLEETCOR’s fuel card business in the United
States.
The order requires FLEETCOR to implement a set of disclosure
practices, such as crediting customer payments on receipt date or
providing notice to customers in advance of receiving a new fee. As
previously disclosed, FLEETCOR has voluntarily implemented multiple
disclosure enhancements to improve the customer experience.
FLEETCOR intends to comply with the order, as required by the
court. FLEETCOR reiterates that we believe the implementation of
this order will not be material to the company’s financial
performance.
“We’re pleased to close out this chapter of the FTC case,” said
Ron Clarke, Chairman and CEO of FLEETCOR Technologies, Inc. “We
remain committed to industry-leading transparency and offering our
customers compelling products and services that provide significant
value to help them run their businesses.”
Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the federal securities laws. Statements that are not
historical facts, including statements about FLEETCOR’s beliefs,
assumptions, expectations and future performance, are
forward-looking statements. Forward-looking statements can be
identified by the use of words such as “anticipate,” “intend,”
“believe,” “estimate,” “plan,” “seek,” “project” or “expect,”
“may,” “will,” “would,” “could” or “should,” the negative of these
terms or other comparable terminology.
These forward-looking statements are not a guarantee of
performance, and you should not place undue reliance on such
statements. We have based these forward-looking statements largely
on preliminary information, internal estimates and management
assumptions, expectations and plans about future conditions, events
and results. Forward-looking statements are subject to many
uncertainties and other variable circumstances, such as our ability
to successfully execute our strategic plan and portfolio review;
any ongoing macro economic, supply chain, workforce or other
impacts of the coronavirus (including any variants thereof,
“COVID-19”); adverse changes in program fees or charges we may
collect, whether through legal, regulatory or contractual changes;
adverse outcomes with respect to current and future legal
proceedings or investigations, including without limitation, the
FTC lawsuit, or actions of governmental, regulatory or
quasi-governmental bodies or standards or industry organizations
with respect to our payment cards; delays or failures associated
with implication of, or adaption to, new technology, changes in
credit risk of customers and associated losses; failure to maintain
or renew key business relationships; failure to maintain
competitive product offerings; failure to complete, or delays in
completing, acquisitions, new partnerships or customer
arrangements; and to successfully integrate or otherwise achieve
anticipated benefits from such acquisitions, partnerships, and
customer arrangements; failure to successfully expand and manage
our business internationally; and other risks related to our
international operations, including the impact of the conflict
between Russia and Ukraine on our business and operations, the
potential impact to our business as a result of the United
Kingdom’s referendum to leave the European Union; the impact of
foreign exchange rates on operations, revenues and income; and the
failure or compromise of our data centers and other information
technology assets; as well as the other risks and uncertainties
identified under the caption "Risk Factors" in FLEETCOR's Annual
Report on Form 10-K for the year ended December 31, 2022 filed with
the Securities and Exchange Commission (“SEC”) on February 28, 2023
and subsequent filings with the SEC made by us. These factors could
cause our actual results and experience to differ materially from
any forward-looking statement made herein. The forward-looking
statements included in this press release are made only as of the
date hereof and we do not undertake, and specifically disclaim, any
obligation to update any such statements as a result of new
information, future events or developments, except as specifically
stated or to the extent required by law. You may access FLEETCOR’s
SEC filings for free by visiting the SEC web site at
www.sec.gov.
About FLEETCOR
FLEETCOR Technologies (NYSE: FLT) is a leading global business
payments company that helps businesses spend less by providing
innovative solutions that enable and control expense-related
purchasing and payment processes. The FLEETCOR portfolio of brands
automate, secure, digitize and manage payment transactions on
behalf of businesses across more than 165 countries in North
America, Latin America, Europe, and Asia Pacific. For more
information, please visit www.FLEETCOR.com..
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Investor Relations Jim Eglseder, 770-417-4697
Jim.Eglseder@fleetcor.com
FleetCor Technologies (NYSE:FLT)
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