According to the law firm press release, the complaint alleges that the Offering Documents failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress's dedicated division; (2) (a) certain shipping patterns had been performing differently than expected and, as a result, (b) utilization and driver retention and hiring were being negatively affected, and as a result, (c) U.S. Xpress's dedicated accounts, including one large account, were being negatively impacted; and as a result, (d) U.S. Xpress's OTR division was providing continued support to the dedicated division; (3) (a) U.S. Xpress failed to stay informed regarding two large liability events; and as a result (b) U.S. Xpress's insurance claim expense was understated; and (4) U.S. Xpress's cost per mile for driver wages and independent contractors was exceeding the Company's internal expectations.
U.S. Xpress Enterprises, Inc. Securities Litigation
Mar 13, 2019 | U.S. Xpress Enterprises, Inc. NYSE: USX | Case Status: Filed
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First Identified Complaint
Benjamin Smith, et al. v. U.S. Xpress Enterprises, Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Complaint for Violations of the Federal Securities Laws||March 8th, 2019|