Fleetcor Allegedly Commits “the Largest Clean Energy Fraud in US History”
Fleetcor sells the “Clean Advantage” program which allows customers to offset their fleet CO2 emissions. In return for a fee, the program automatically calculates a customer’s emissions and invests in projects that offer a carbon offset. On June 6, 2019, Citron Research released a report calling Clean Advantage “the Largest Clean Energy Fraud in US History.” According to the report, Fleetcor has allegedly pocketed nearly all of the $100 million generated from Clean Advantage, instead of using the proceeds to make proportionate investments in the environment to offset users’ carbon footprint.
The firm’s investigation is focused on whether: (1) Fleetcor committed a “green fraud” in connection with its Clean Advantage program; (2) FleetCor’s Board of Directors breached their fiduciary duties; and (3) the Company suffered damages and, if so, the extent such damages.
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