FleetCor Technologies Inc. said it has reached an impasse in its discussions with the Federal Trade Commission regarding claims relating to the company's advertising and marketing practices, mainly in its U.S. direct fuel card business within its North American fuel card business.
The FTC in October 2017 issued a notice of civil investigative demand for the company to produce documentation and responses to written questions. After discussions with FleetCor, the FTC proposed in October 2019 to resolve these potential claims, but as of the company's Nov. 12 quarterly filing, the FTC had not offered a specific proposal on the amount of potential redress.
The parties continued to discuss the matter. Now that negotiations are at an impasse, according to the company, the FTC may file a civil complaint. FleetCor said the impasse is related to what it believes are the FTC's "unreasonable demands for redress." The company continues to believe that the claims are without merit and that the situation is not and will not be material to its financial performance.