PRNewswire 11-Jan-2019 10:50 PM
NEW ORLEANS, Jan. 11, 2019 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 12, 2019 to file lead plaintiff applications in securities class action lawsuits against XPO Logistics, Inc. (NYSE:XPO), if they purchased the Company's securities between February 26, 2014, and December 13, 2018, inclusive (the "Class Period"). These actions are pending in the United States District Courts for the District of Connecticut and Southern District of New York.
XPO investors should visit us at https://www.claimsfiler.com/cases/view-xpo-logistics-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuits
XPO and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 13, 2018, Spruce Point Capital Management reported that its lengthy investigation into XPO revealed "concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out liabilities, and aggressive amortization assumptions: all designed to portray glowing 'Non-GAAP" results" and "financial irregularities [covering] growing financial strain," among other findings.
On this news, the price of XPO's shares plummeted $15.77 per share, or 26.17%.
The first case filed is Labul v. XPO Logistics, Inc., 18-cv-02062.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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