FleetCor Technologies, a business payment company based in metro Atlanta, has agreed to settle a class action securities fraud lawsuit for $50 million in cash, according to court filings.

Counsel for the City of Sunrise General Employees’ Retirement Plan, a public pension fund in suburban Miami that is lead plaintiff in the case, filed a notice seeking preliminary approval of the proposed settlement on Nov. 7. The case is before U.S. District Judge Leigh Martin May.