Glancy Prongay & Murray LLP (GPM) announces an investigation on behalf of XPO Logistics, Inc. investors (XPO or the Company) (NYSE: XPO) concerning the Company and its officers possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On December 12, 2018, Spruce Point Capital Management (Spruce Point) published a report asserting that a forensic investigation into XPO had revealed financial irregularities that conveniently cover [the Companys] growing financial strain and inability to complete additional acquisitions despite repeated promises. Specifically, Spruce Point reported that it had discovered, among other issues, concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out labilities, and aggressive amortization assumptions: all designed to portray glowing ˜Non-GAAP results. On this news, XPOs share price fell $15.77 per share, or more than 26%, to close at $44.50 on December 13, 2018, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased XPO securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.