$6.25 Million Class Action Lawsuit Settlement by Charlotte
The class action lawsuit between Operator Independent Drivers Association, Inc. and seven OOIDA members and Charlotte, North Carolina based intermodal carrier, has been agreed to be settled for $6.25 million.
The class action lawsuit was filed on behalf of individual owner operators, alleging that BTT violated federal truth-in-leasing regulations by failing to disclose or properly document compensation provisions in its lease agreements.
The lawsuit further alleged that BTT violated the leasing regulations by failing to disclose fuel and insurance-related administrative fees in its lease.
The settlement class covers all owner-operators who leased equipment and services to BTT during the period June 2000 through December 2005, approximately 6,000 drivers.
In addition, BTT has agreed to implement a revised lease agreement with its owner-operators. The revised lease agreement contains clearly stated compensation terms and discloses all administrative fees charged-back to owner-operators.
Filed under Class Action, General Law, Settlements
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