Asbury Automotive Group announced on October 7, 2024, the filing of a lawsuit in the United States District Court for the Northern District of Texas. The lawsuit challenges the constitutionality of an administrative proceeding initiated by the Federal Trade Commission (FTC) against Asbury.
The company's lawsuit asserts that the FTC's administrative process violates its constitutional rights by denying the right to a jury trial and allowing the FTC to act as both prosecutor and judge. Asbury's counsel stated that the Supreme Court's decision in SEC v. Jarkesy, which reaffirmed a defendant's right to a jury trial, applies to FTC administrative proceedings.
In August, Asbury rejected an FTC complaint alleging that three of its Dallas-Ft. Worth dealerships sold protection products to customers without their agreement, deeming the complaint false and unfounded. The lawsuit seeks to enjoin the FTC's administrative proceeding on these constitutional grounds.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.