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TravelCenters Of America LLC Settles Previously Disclosed Antitrust Case

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TA’S CURRENT BELIEFS, EXPECTATIONS, AND INFORMATION BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, INCLUDING SOME REASONS WHICH ARE BEYOND TA’S CONTROL. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT TA HAS ENTERED A MEMORANDUM OF UNDERSTANDING TO SETTLE THE LITIGATION DESCRIBED. AS NOTED ABOVE, THE FINAL SETTLEMENT OF THIS LITIGATION REQUIRES THAT TA AND THE PLAINTIFFS’ REPRESENTATIVES ENTER A DEFINITIVE SETTLEMENT AGREEMENT WHICH MUST BE APPROVED BY THE COURT PURSUANT TO THE PROCEDURES FOR SETTLEMENT OF A CIVIL CLASS ACTION. ALSO, THE MEMORANDUM OF UNDERSTANDING PROVIDES THAT TA MAY WITHDRAW FROM THE SETTLEMENT IF CLASS MEMBERS WHO OPT OUT OF THE SETTLEMENT PURSUANT TO PROCEDURES TO BE ESTABLISHED BY THE COURT REPRESENT MORE THAN 11.5% OF THE TOTAL NUMBER OF FUEL CARD TRANSACTIONS BY CLASS MEMBERS. FOR THESE REASONS, AMONG OTHERS, THE PROPOSED SETTLEMENT MAY NOT BE COMPLETED.
  • THIS PRESS RELEASE STATES THAT TA DETERMINED TO ENTER THIS SETTLEMENT TO AVOID THE EXPENSE AND DISTRACTIONS OF THIS CONTINUING LITIGATION. AS NOTED ABOVE, THE SETTLEMENT MAY NOT BE CONSUMMATED, SOME CLASS MEMBERS MAY DECIDE TO PURSUE SEPARATE LITIGATION AGAINST TA, AND TA MAY NOT AVOID THE EXPENSE AND DISTRACTION OF CONTINUING LITIGATION. ALSO, THE LEGAL PROCESS OF SETTLING A CLASS ACTION CAN ITSELF BY EXPENSIVE AND THIS EXPENSE WILL CONTINUE UNTIL THE PROPOSED SETTLEMENT IS COMPLETED.
  • THIS PRESS RELEASE STATES THAT TA DOES NOT BELIEVE THAT THE NON-MONETARY SETTLEMENT TERMS AGREED BY OTHER DEFENDANTS IN THIS LITIGATION WILL BE DETRIMENTAL TO TA’S BUSINESS. HOWEVER, TA DOES NOT KNOW WHETHER THE SETTLEMENTS BY OTHER DEFENDANTS WILL BE APPROVED OR CHANGED, NOR WHAT ACTIONS MAY BE TAKEN BY OTHERS REGARDING THE NON-MONETARY MATTERS THAT HAVE BEEN AGREED. ACCORDINGLY, TA CANNOT BE ASSURED OF THE CONSEQUENCES TO TA’S FUTURE BUSINESS WHICH MAY RESULT FROM SETTLEMENTS BY OTHER DEFENDANTS.

FOR THESE REASONS, AMONG OTHERS, INVESTORS IN TA SECURITIES SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.

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