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UPS.US
id: 1369
United Parcel Service (UPS) Financial Issues Case
N.D. Georgia
Court1:24-cv-04591
Case number01/30/2024
Class period Start07/22/2024
Class period End12/09/2024
Lead Plaintiff motion deadline- $UPS stockholders filed a claim against UPS for hiding that it couldn’t manage higher volumes in low-profit services without hurting its profit margins.
- After the financial results on July 23, 2024, $UPS dropped by over 12%.
- UPS investors can join this case to be notified about potential recovery.
Case Details:
From January to July 2024, UPS executives told investors they expected $92-94.5 billion in revenue and 10-10.6% operating margins for 2024.
However, on July 23, 2024, UPS reported disappointing Q2 results, revealing a decline in operating margins due to a shift in customer demand toward lower-margin services.
This news caused a 12.05% drop in $UPS.
Based on these events, $UPS investors filed a claim against UPS, accusing the company of the following:
- The company overstated revenue and margin projections.
- It concealed the impact of lower-margin services on profits and misled investors about its financial performance.
Considering all the representations, investors suspect UPS hid the impact of lower-margin services and misled investors with inflated revenue projections.
Case Status
Voluntary Dismissed
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose
Suspected Party
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07/23/2024
Filing date
10/10/2024
Lead Plaintiff Deadline
12/09/2024
Judge
Steven D. Grimberg