Celadon Group, Inc. is an American truckload shipping company.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Celadon’s equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution as reported in its public filings; (2) Celadon is being actively investigated by the SEC; (3) Celadon’s financial statement for the fiscal year ended June 30, 2016 could not be relied upon; (4) Celadon’s financial statement for quarter ended September 30, 2016 could not be relied upon; (5) Celadon’s financial statement for quarter ended December 31, 2016 could not be relied upon; and (6) as a result, Defendants’ statements about Celadon’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On August 22, 2017, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. The consolidated cases shall be identified as: "In re Celadon Group, Inc. Securities Litigation."

On August 9, 2018, following a mediation, and after extensive negotiations between the parties, the parties reached an agreement in principle to settle this action, subject to the Court’s approval. On September 28, Lead Plaintiffs filed a consolidated Complaint. On October 4, the parties entered into a Stipulation and Agreement of Settlement. The Court issued an Order granting preliminary approval of the Settlement on October 11. On January 16, 2019, the Court granted final approval of the Settlement and entered Final Judgment.