LOS ANGELES (Legal Newsline) — A group of auto dealerships, holding and management companies and two individuals will pay roughly $3.6
million in restitution after facing allegations of using deceptive and unfair business
proposed settlement announced March 14 by the Federal Trade Commission, the Sage Automotive Group is banned from making
misrepresentations about add-on products, financing and endorsements or
testimonials. The defendants are also banned from further violations of the Truth
In Lending Act and Regulation Z, and the Consumer Leasing Act and Regulation M.
defendants in the case are Universal City Nissan Inc.; Sage Downtown Inc., also known as Kia of Downtown Los Angeles; Glendale
Nissan/Infiniti Inc., Valencia Holding Co. LLC, also known as Mercedes-Benz of Valencia; West Covina
Auto Group LLC, also known as West Covina Toyota and West Covina Toyota/Scion;
West Covina Nissan LLC; Covina MJL LLC, also known as Sage Covina Chevrolet; Sage
North Hollywood LLC also known as Sage Pre-Owned; Sage Vermont LLC, also known as Sage Hyundai; Sage Holding Co. Inc. and Sage Management Co. Inc.
defendants in the case are Joseph Schrage and Michael Schrage.
voted 2-to-1 to approve the stipulated final order. Acting Chairman Maureen K.