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USX.US
id: 644, Created by Stan Vick Chase, Scout
USX Investors $13M Settlement
Pending settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
15 June 2018
Class period Start08 March 2019
Class period End16 August 2023
Claim deadlineHow it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
U.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.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Case number
1:19-cv-00098-TRM-CHS
Filing date
08 March 2019
Lead plaintiff
Lewis Stein, Deirdre Terry, Charles Clowdis, Bryan Robbins, SEPTA, and Linda Babbidge
Attorney
Robbins Geller Rudman & Dowd LLP, Levi & Korsinsky, LLP
Defendants
Eric Fuller, Max Fuller, Eric Peterson, Jason Grear, Lisa Quinn Pate
Court
Eastern District of Tennessee
Judge
Hon. Harry S Mattice, Jr
Administrator
Gilardi & Co LLC
Court hearing date
10 July 2023
Exclusion deadline
19 June 2023
Objection deadline
19 June 2023
Hearing deadline
19 June 2023
+$13,000,000
Total Settlement Amount