C.H. Robinson Worldwide Shares Decline After Supreme Court Rules Company Could Be Liable for Negligent Hiring

By Connor Hart

Shares of C.H. Robinson Worldwide slipped after the Supreme Court ruled that a man struck by a truck coordinated by the global logistics company can sue the firm for negligent hiring.

The stock declined 4.5%, to $156.39, on Thursday. Shares have ebbed about 3% since the beginning of the year, though they remain up 58% over the past 52 weeks.

In the incident, a truck driver working for Caribe Transport, a motor transport company, struck Shawn Montgomery, who sustained permanent and severe injuries, according to court documents.

Montgomery then sued C.H. Robinson, the broker who arranged the shipment, arguing that the company should have known the carrier was unsafe.

C.H. Robinson argued it was immune to the lawsuit due to the Federal Aviation Administration Authorization Act. However, the Supreme Court on Thursday declared that the federal law doesn't protect the broker from being sued for choosing an unsafe trucking company.

Write to Connor Hart at [e-mail]

(END) Dow Jones Newswires

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