is saving up for the escape
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Last chance under a penny here.
A squeaky-clean Delaware shell...Wow!
$TVCE looking good @georgie18, thanks for the alert!
$ARQL I got shook out, most were a 5 bagger on the 22's from .05 to .25 so can't complain much :)
$TVCE from grays to pinks today. In a few at .002-.003 levels.
Got a few here, let's roll!
$ARQL Jan calls lighting up like a Christmas tree...
$FLT might tank on this: Complaint says Georgia -based company made false promises of fuel savings, deliberately hid large fees from customers
The Federal Trade Commission filed suit against a company that sells fuel card services to businesses, alleging that it has charged customers at least hundreds of millions of dollars in hidden fees after making false promises about helping customers save on fuel costs.
FleetCor is a publicly traded company headquartered in Atlanta, Georgia and reported $2.4 billion in annual revenues in 2018. FleetCor markets its fuel card services under its own "Fuelman" brand name, as well as through co-branded cards, to businesses around the country. Its business customers give FleetCor's fuel cards to their employees to use in refueling company vehicles.
According to the FTC's complaint against FleetCor and its CEO, Ronald Clarke , the defendants falsely have told potential customers that they would save money, be protected from unauthorized charges, and have no set-up, transaction, or membership fees.
The complaint outlines a broad array of fees that the defendants have charged customers in ways that customers did not detect. The fees have totaled at least hundreds of millions of dollars, harming tens of thousands of customers. The fees, despite the defendants' promises, often have been charged on a per-transaction basis or have been required for membership in FleetCor's programs.
According to the complaint, the defendants often have waited to begin charging many fees until a few billing cycles have passed, making the fees harder to detect among a customer's monthly bill fluctuations. The complaint also alleges that FleetCor's invoices often have failed to disclose that any fees were being charged, requiring customers to proactively view other account management reports. Even on those documents, many fees have been obscured among other information.
The FTC alleges that the defendants also have not posted customer payments when they were received. That has led to even more fees, including late fees for on-time payments and "high credit risk" fees, because the customers ostensibly had paid late. The defendants have charged some customers "high risk" fees for being in the trucking and transportation industry, even though FleetCor's primary customer base operates in those very industries.
In addition, the defendants' promises about stopping unauthorized charges also have proved untrue, according to the complaint. While the defendants have advertised FleetCor's cards as "fuel only" cards, cardholders have been able to purchase any item sold at fueling locations, including beer and snacks.
The complaint alleges that FleetCor's own terms of service have said customers would have to pay charges even if they were outside the limits placed by the customer. Internal company emails called the practice "...the most egregious customer impact we do as it takes customers by surprise (unless they're really large) based on their experience with consumer cards."
The complaint alleges that customers generally have not achieved the advertised per-gallon savings by using FleetCor's cards. To support this allegation, the complaint cites FleetCor's own documents, which show that customers' average savings on fuel have fallen far short of the defendants' marketing promises. The complaint also alleges that an analysis requested by Clarke in response to negative press coverage about these marketing practices showed that, on average, customers have saved a fraction of a cent per gallon--far less than the 5-10 cents per gallon frequently touted by the defendants. In addition, the fees charged by the defendants have exceeded any savings otherwise obtained using FleetCor's cards.
The complaint charges FleetCor and Clarke with violating the FTC Act's prohibitions on unfair and deceptive acts and practices.
The Commission vote authorizing the staff to file the complaint was 4-1, with Commissioner Wilson voting no, and Commissioner Phillips voting yes but dissenting in part as to the inclusion of Ronald Clarke as an individual defendant. The complaint was filed in the U.S. District Court for the Northern District of Georgia .
NOTE: The Commission files a complaint when it has "reason to believe" that the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest. The case will be decided by the court.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook , follow us on Twitter, read our blogs, and subscribe to press releases for the latest FTC news and resources.
(END) Dow Jones Newswires
12-20-19 1043ET
$ARQL here's the volume...gonna see 21 today methinks.
20.40 weeeeeeee!!!!!!!!!!!!
Late day buying could push us to 21+
20.30 chugging right along $ARQL
There is a $98M breakup fee, a drop in the bucket for $PFE
OMG!!!
The 22's are going batshyte crazy...
$ARQL 20.20 prints...it's on, bitchez!
Jan 22 calls weird action, somebody buying all they can at .20
$ARQL volume coming in now...
Interesting:
$ARQL wow, 1.5 million share trade at closing bell $20.16. That's not a retail mom&pop trade. Way above fair value of the $MRK transaction as stands now. Sweetened bid probability ratchets up a bit imho.
— Opal Chip (@Opal_Chip) December 19, 2019
Wow...somebody will be filing a SEC form "something" I imagine soon. Form 3? 13? I don't know but beyond 10% they have to file something.
$ARQL WTF!!!
$ARQL 20.13 prints that don't affect the price...what a weird stock.
$FDX big selloff. Suckiest delivery service out there.
$ARQL not sure how accurate this is, but this guy says $MRK can't buy outside of the tender offer...so who is buying all these shares?
https://twitter.com/ffmoo1/status/1207220520132861952
$ARQL interesting thread...he seems to think other bidders might be there still.
Only one bidder until everyone else saw the data. Now ????? Who knows 🤔🤔🤔🤔 https://t.co/j90HDj5ZoM
— dough (@semodough) December 17, 2019
$MO might go on this, I think they own most of JUUL: Toronto, ON , Dec. 17, 2019 (GLOBE NEWSWIRE) -- After almost six months of growing panic concerning the cause of the lung illness, or EVALI, that swept the U.S. and parts of Canada , The Centers for Disease Control and Prevention (CDC) confirmed on December 6 that nicotine-based “e-cigarettes” have not been linked to a single vaping-related illness. In fact, as has been widely suggested by a diversity of clinical experts, the true source of this illness is illicit cannabis (THC) vaping products containing vitamin E acetate
Still hanging up there above 20, makes no sense at all unless another bidder in the mix.
$ARQL a filing from a third party would be nice to see about now...
$ARQL here's the volume...
Should flush the other bidder out of hiding fast...
Light volume, let's see if the volume comes pouring in today.
So, the question remains....
WHO THE EFF BOUGHT ALL THOSE CALLS AND SHARES ABOVE 20?
Exactly, and I really don't see what date the transaction ended. The filing refers to Dec 5, the day before the tender offer filing. The calls were all bought after the tender was made public.
One guy on twitter says that it hinders any other bidders, but who knows. Just some weird action. Tomorrow should be interesting.
$MRK buying the shit out of $ARQL so that another bidder has a harder time, but this means that Merk knows good and well they are stealing it.
$ARQL eod push is due...
$ARQL appears to be "on" much like an old-school video game would be considered "on".
In other words,
IT'S ON LIKE DONKEY KONG!!!
$ARQL a close over 21 would make Tiny Tim happy this Christmas.
$PCG might be dead now. Looking for cheap putskis.