NEW YORK, June 15, 2017 /PRNewswire/ -- Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it has filed a securities class action lawsuit on behalf of City of Sunrise General Employees' Retirement Plan against FleetCor Technologies, Inc. ("FleetCor" or the "Company") (NYSE: FLT) and certain of its senior executives. The action, which is captioned City of Sunrise General Employees' Retirement Plan v. FleetCor Technologies, Inc., No. 1:17-cv-02207 (N.D. Ga.), asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in FleetCor securities during the time period of February 5, 2016 to May 2, 2017, inclusive (the "Class Period").
The Complaint alleges that during the Class Period, FleetCor misled investors with regard to the sources of and reasons for its earnings and growth. The Complaint also alleges that FleetCor falsely stated that the Company discloses its fees to customers clearly and that it focuses its business on helping employers control spending and save money. In truth, the Company owes its ostensible success to overcharging customers, disseminating misleading marketing materials, and engaging in predatory sales practices. In addition, FleetCor's contracts did not clearly disclose the Company's fees and FleetCor's improper business practices did not help customers control spending or save money.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than 60 days from today. Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is August 14, 2017. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice. Members may also choose to do nothing and remain part of the proposed Class.
If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at firstname.lastname@example.org. Information about BLB&G can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP