On or around 04/28/2020 (Other)
Filing Date: January 02, 2019
According to the Complaint, YRC Worldwide Inc. provides various transportation services primarily in North America. It operates as a holding company with two reporting segments: YRC Freight (longer haul trucking) and Regional Transportation (regional and next-day delivery markets).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) from 2005 to at least 2013, YRC Worldwide’s units systematically overcharged the federal government for freight carrier services; (2) this alleged misconduct caused the Department of Defense to overpay by millions of dollars for shipments that were lighter, and thus cheaper, than the weights for which the government was charged; (3) consequently, this alleged misconduct would subject YRC Worldwide to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and (4) as a result, YRC Worldwide’s public statements were materially false and misleading at all relevant times.
On April 25, 2019, the Court issued an Order appointing Co-Lead Plaintiffs and Co-Lead Counsel. Lead Plaintiffs filed an amended Complaint on June 14. On June 19, Lead Plaintiffs corrected the amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on July 15. On March 27, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. On April 27, Lead Plaintiffs filed a notice appealing the Court's Dismissal Order.
Company & Securities Information
Defendant: YRC Worldwide Inc.
Headquarters: United States
Ticker Symbol: YRCW
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Christina Lewis, et al. v. YRC Worldwide Inc., et al.