Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims on behalf of shareholders of U.S. Xpress Enterprises
NEW YORK, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims on behalf of shareholders who purchased and incurred losses in shares of U.S. Xpress Enterprises (NYSE: USX) (“U.S. Xpress”), please call Gregory Stone at (800) 575-0735 or (212) 545-4774, or email to firstname.lastname@example.org.
U.S. Xpress Enterprises’ truckload transportation units, led by flagship U.S. Xpress and Arnold Transportation, provide medium to long-haul service throughout North America, as well as regional service in the Midwestern, Southeastern and Western US. It also offers dedicated contract carriage, in which drivers and equipment are assigned to a customer long-term, and expedited freight hauling. Subsidiary Xpress Global Systems provides less-than-truckload freight hauling, warehousing, and distribution services. Overall, the company’s fleet includes about 8,000 trucks and 22,000 trailers.
On June 13, 2018, U.S. Xpress price its initial public offering (“IPO”) of 21.76 million shares at $16.00 per share.
On November 1, 2018, U.S. Xpress announced its third quarter 2018 financial results. Therein, the Company reported that utilization in certain trucking divisions was negatively impacted because the Company’s over the road division was required to provide drivers to its dedicated division. Then, on November 2, 2018, U.S. Xpress revealed that it was retaining a new Chief Operating Officer.
On this news, U.S. Xpress’s share price fell $3.04 per share, or nearly 30%, to close at $7.10 on November 2, 2018, thereby injuring investors. U.S. Xpress is currently trading at $5.00 per share, 69% below its IPO price.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests in this matter, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.