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USX Investors $13M Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
E.D. Tennessee
Court
1:19-cv-00098-TRM-CHS
Case number
15 Jun 2018
Class period Start
08 Mar 2019
Class period End
16 Aug 2023
Claim deadline
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
Filing date
08 March 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
10 July 2023
Exclusion deadline
19 June 2023
Objection deadline
19 June 2023
Hearing deadline
19 June 2023
+$13,000,000
Total Settlement Amount
Created by Stan Vick, Scout

US Xpress Enterprises Inc

U.S. Xpress Enterprises, Inc. operates as an asset-based truckload carrier primarily in the United States. It operates through two segments, Truckload and Brokerage. The Truckload segment offers ov...

    Ticker
    USX.US
    ISIN
    US90338N2027
    CIK
    923571
    Sector
    Industrials
    Industry
    Trucking
    Country
    USA
    Address
    4080 Jenkins Road, Chattanooga, TN, United States, 37421