NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the Eastern District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired U.S. Xpress Enterprises, Inc. (NYSE: USX) securities pursuant to and/or traceable to U.S. Xpress’ Initial Public Offering (“IPO”) on or about June 14, 2018.
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The complaint alleges that the Offering Documents failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress’ 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’ dedicated accounts, including one large account, were being negatively impacted; and as a result, (d) U.S. Xpress’ 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’ insurance claim expense was understated; and (4) U.S. Xpress’ cost per mile for driver wages and independent contractors was exceeding the company’s internal expectations.
If you purchased U.S. Xpress securities pursuant to and/or traceable to the IPO and suffered a loss, have information, have information, 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 Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the U.S. Xpress lawsuit, please go to https://bespc.com/usx/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com