SAN DIEGO, April 03, 2019 (GLOBE NEWSWIRE) -- Nationally recognized securities attorney Andrew J. Brown, founder of The Law Offices of Andrew J. Brown, announces an investigation into legal claims against the officers and Board of Directors of U.S. Xpress Enterprises, Inc. (NYSE:USX).
More information can be found at www.thebrownlawfirm.com.
The class action lawsuit was filed on March 11, 2019 in the United States District Court Eastern District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired U.S. Xpress Enterprises Inc. securities pursuant and/or traceable to the company’s IPO completed in June 2018.
The complaint alleges that U.S. Xpress’s Offering materials issued in connection with its IPO failed to disclose numerous problems with its business and operations, including: (1) a shortage of trucks; (2) certain shipping patterns had been performing differently than expected, negatively affecting utilization and driver retention and hiring and negatively impacting U.S. Xpress’ dedicated accounts, including one large account; (3) U.S. Xpress failed to stay informed regarding two large liability events, causing its insurance claim expense to be understated; and (4) U.S. Xpress’ cost per mile for driver wages and independent contractors was exceeding the company’s internal expectations.
Based upon the allegations in the filed class action complaint, the Law Offices of Andrew J. Brown is investigating legal claims involving violations of federal securities laws by the Company’s Officers and Directors. The Law Offices of Andrew J. Brown is an investor and consumer-dedicated litigation firm with more than 20 years of experience in complex consumer and securities class action litigation. www.thebrownlawfirm.com
If you are (or were) a U.S. Xpress Enterprises Inc. shareholder and want to learn more about the investigation and pending lawsuits, contact Andrew J. Brown directly at andrewb@thebrownlawfirm.com. There is no cost or fee to you. If you wish to be appointed lead plaintiff of the proposed class you must make the request no later than May 10, 2019.
Andrew J. Brown
Law Offices of Andrew J. Brown
501 W. Broadway, Ste. 1490
San Diego, CA 92101
(619) 501-6550
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