US$20 million dollar fine agreed to! EDMONTON, AB, Dec. 19, 2024 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX:ACQ), a multi-location North American automobile dealership group, announced today that it has reached an agreement with the United States Federal Trade Commission (the "FTC") to resolve the FTC's civil investigation into certain business practices at AutoCanada's dealerships in Illinois.
As part of the resolution, the Company will pay US$20 million to the FTC and the State of Illinois in monetary relief, with no civil penalties. The agreement contains no admission of wrongdoing by the Company, brings the FTC's investigation to a close, and puts this matter behind the Company.