Pilot Flying J is expected to settle the ongoing federal class action lawsuit over alleged fuel rebate fraud for $72 million, the Knoxville News Sentinel reported.
On Nov. 25, 2013 a fairness healing is scheduled where the proposed settlement is scheduled for final approval.
According to documents filed on behalf of 10 trucking companies that filed the lawsuit, Knoxville, Tenn.-based Pilot Flying J’s cash offer was described as “an extraordinarily good settlement” on behalf of trucking companies that are owed fuel rebates.
Court document list the settlement value at approximately $72 million, including interest, costs of audits, administration, attorney fee and additional $10,000 for each trucking company in “incentive awards.”
Trucking companies taking part in the settlement must agree not to sue Pilot Flying J at a later date.
Pilot Flying J estimated that of 7,000 trucking company accounts it has audited, nearly 2,500 accounts had “discrepancies” regarding fuel rebates, according to Knoxville News Sentinel.
An estimated 150 trucking companies that did business with Pilot Flying J are not willing to take part of the settlement and have opted out, and may continue a legal battle on their own.