Rosen Law Firm Reminds Investors of U.S. Xpress Enterprises, Inc. of Important Deadline in Securities Class Action Lawsuit; Encourages Investors with Over $100K in Losses to Contact the Firm – USX
04/15/2019 | 06:07pm EDT
NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of U.S. Xpress Enterprises, Inc. (NYSE: USX) pursuant and/or traceable to the company’s initial public offering completed in June 2018 (the “IPO” or the “Offering”) of the important May 10, 2019 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for U.S. Xpress investors under the federal securities laws.
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 INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, U.S. Xpress’s Offering materials issued in connection with its IPO failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress’s 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. Xpress’s dedicated accounts; (3) consequently, U.S. Xpress’s 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. Xpress’s cost per mile for driver wages and independent contractors was exceeding the company’s 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. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
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.