Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of U.S. Xpress Enterprises, Inc. (NYSE:USX) pursuant and/or traceable to the companys initial public offering completed in June 2018 (the IPO or the Offering). The lawsuit seeks to recover damages for U.S. Xpress investors under the federal securities laws.
To join the U.S. Xpress class action, go to https://www.rosenlegal.com/cases-register-1447.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTORS ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, U.S. Xpresss Offering materials issued in connection with its IPO failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpresss dedicated division; (2) certain shipping patterns had been performing differently than expected, negatively impacting utilization and driver retention and hiring, as well as U.S. Xpresss dedicated accounts; (3) consequently, U.S. Xpresss OTR division was providing continued support to its dedicated division; (4) U.S. Xpress failed to stay informed regarding two large liability events, resulting in an understatement of insurance claim expense; and (5) U.S. Xpresss cost per mile for driver wages and independent contractors was exceeding the companys internal expectations. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 10, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-register-1447.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653