USX.US
id: 644
USX Investors $13M Settlement
E.D. Tennessee
Court1:19-cv-00098-TRM-CHS
Case number06/15/2018
Class period Start03/08/2019
Class period End08/16/2023
Claim deadlineU.S. Xpress Enterprises (USX) agreed to settle $13 million with investors.
The complaint alleged that the Offering Documents failed to disclose several things, including that a shortage of trucks had a negative impact on U.S. Xpress's dedicated division; certain shipping patterns were performing differently than expected, which negatively affected utilization, driver retention and hiring, and U.S. Xpress's dedicated accounts (including one large account); as a result, U.S. Xpress's OTR division was providing continued support to the dedicated division; U.S. Xpress failed to stay informed regarding two large liability events, resulting in the understatement of the company's insurance claim expense; and the cost per mile for driver wages and independent contractors was exceeding the company's internal expectations. This information was revealed in a law firm press release.
Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
03/08/2019
Plaintiffs
Lewis Stein, Deirdre Terry, Charles Clowdis, Bryan Robbins, SEPTA, and Linda Babbidge
Attorneys
Robbins Geller Rudman & Dowd LLP, Levi & Korsinsky, LLP
Defendants
Eric Fuller, Max Fuller, Eric Peterson, Jason Grear, Lisa Quinn Pate
Judge
Hon. Harry S Mattice, Jr
Administrator
Gilardi & Co LLC
Court hearing date
07/10/2023
Exclusion deadline
06/19/2023
Objection deadline
06/19/2023
Hearing deadline
06/19/2023
Trades matching type
FIFO
+$13,000,000
Cash Settlement Amount