04:02 PM EST, 12/19/2024 (MT Newswires) -- AutoCanada ( AOCIF ) on Thursday afternoon, said it has reached an agreement with the U.S. Federal Trade Commission to resolve an investigation into its Illinois dealerships.

As part of the settlement, the automobile dealership company will pay US$20 million in monetary relief to the agency and the State of Illinois, but there will be no civil penalties, the company said.

It added that "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."

Shares of AutoCanada ( AOCIF ) closed down $0.68 to $16.98 on the Toronto Stock Exchange.

Price: 16.91, Change: -0.75, Percent Change: -4.25