An investigation on behalf of current long-term investors in shares of U.S. Xpress Enterprises, Inc. (NYSE: USX) concerning potential breaches of fiduciary duties by certain directors and officers of U.S. Xpress Enterprises, Inc. was announced.
Investors who are current long term investors in U.S. Xpress Enterprises, Inc. (NYSE: USX) shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in U(NYSE: USX stocks follows a lawsuit filed against U.S. Xpress Enterprises, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: USX stocks, concerns whether certain U.S. Xpress Enterprises, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of Tennessee the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the offering Documents failed to disclose that a shortage of trucks was negatively impacting U.S. Xpress’s dedicated division, that (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, that (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 that U.S. Xpress’s cost per mile for driver wages and independent contractors was exceeding the Company’s internal expectations.
Those who purchased shares of U.S. Xpress Enterprises, Inc. (NYSE: USX) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.