WILMINGTON, Del., Oct. 10, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating FedEx Corporation ("FedEx" or the "Company") for potential securities fraud and breach of fiduciary duty.
On July 17, 2014, the United States Department of Justice filed a 15-count criminal indictment in the United States District Court for the Northern District of California charging FedEx with conspiracies to distribute controlled substances and misbranded prescription drugs for illegal Internet pharmacies. The indictment alleges that FedEx Corporation, FedEx Express and FedEx Services, together with certain pharmacies, conspired to unlawfully distribute controlled substances, unlawfully distributed controlled substances and conspired to unlawfully distribute misbranded drugs. The indictment further provides that since 2004, "FedEx knew that it was delivering drugs to dealers and addicts" as FedEx's couriers "expressed safety concerns that were circulated to FedEx Senior management, including that FedEx trucks were stopped on the road by online pharmacy customers demanding package of pills."
On August 14, 2014, a federal grand jury issued a superseding indictment against FedEx adding three counts of conspiracy to commit money laundering. Combined, the superseding indictment charges 18 counts of distribution of controlled substances and conspiracy to distribute controlled substances, under 21 U.S.C. § 841 & 846, conspiracy to distribute misbranded drugs in interstate commerce, under 18 U.S.C. § 371, and conspiracy to launder money, under 18 U.S.C. § 1956. A copy of the superseding indictment can be downloaded at: http://www.andrewsspringer.com/files/FEDEX_Indictment.pdf
As a result of this indictment, FedEx could face a $1.6 billion fine for its actions.
As a result of the foregoing news, Andrews & Springer has opened an investigation to determine whether FedEx and its executives violated securities laws and breached their fiduciary duties to shareholders.
If you have continuously owned shares in FedEx since 2004 and want to receive additional information and protect your legal rights free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/FDX or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.