FleetCor, Investors Get Final Court OK of $50 Million Settlement

FleetCor Technologies Inc. and its investors secured a Georgia federal district judge’s final approval for their $50 million settlement in a suit alleging misleading statements about sales practices.

The fuel card provider agreed to pay $50 million in cash to end the suit, and the U.S. District Court for the Northern District of Georgia approved the deal Wednesday. In settling, FleetCor didn’t admit wrongdoing.

The settlement is “fair, reasonable and adequate” because the parties reached it after arm’s-length negotiations and it provides adequate relief considering the “costs, risks, and delay of trial and appeal,” Judge Leigh Martin May’s order said. ...