U.S. Markets closed

Sage Auto Group Reaches Settlement with FTC


As announced by the Federal Trade Commission earlier today, March 14th, Sage Automotive Group settled allegations brought against the company by the FTC. Sage fully cooperated with the FTC over the course of many years and the review of thousands of pages of advertising and other documents. Though Sage considered the FTC’s allegations to be without merit and overreaching, to avoid the overwhelming cost of protracted litigation, Sage agreed to settle the action with an agreement to stand by the company's commitment to follow the law and to pay, to consumers and not to the government, approximately $276,000 per named entity, which amount is consistent with FTC settlements reached with other targeted auto sector enterprises throughout the country. Despite the FTC's allegations, Sage Automotive Group believes that it has always met its regulatory responsibilities and looks forward to continuing to provide outstanding sales and service to its customers.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170314006518/en/