Pilot says it’s paid 95% of 5,500 trucking companies in its $85M settlement
Pilot Flying J in an update posted on its Rebate Education website said this week that by Dec. 31, 2013, it had paid 95 percent of the companies it owed money to in its $85 million settlement with 5,500 trucking companies that an Arkansas court approved in November.
The payments it’s made include both the money owed in the actual fuel rebates and the 6 percent interest determined in the settlement.
The Rebate Education website was set up in the wake of the federal allegations against the truck stop chain and fuel provider that it had been cheating trucking companies out of owed fuel rebates over nearly a decade long period.
In the update, too, Pilot says it is still “evaluat[ing] and re-evalua[ting]” customer accounts.
“Pilot Flying J is committed to providing its customers with access to their audit results, to answer their questions and help ensure our customers feel comfortable with Pilot Flying J’s audit and repayment. We anticipate this process will continue for several more months,” the update reads.
A federal court in Arkansas approved the $85 million settlement in November between Pilot and the 5,500 trucking companies who were allegedly defrauded out of owed rebates.
$56.5 million of that was designated for the principle funds owed, while $9.75 million was marked as the 6 percent interest. $14 million was set aside for attorney’s fees, if approved by the court, and $4.5 million was for audit costs.