U.S. Xpress Enterprises, Inc. Securities Litigation
On or around 06/30/2020 (Date of last review)
Filing Date: March 08, 2019
According to the law firm press release, the complaint alleges that the Offering Documents failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress’s dedicated division; (2) (a) certain shipping patterns had been performing differently than expected and, as a result, (b) utilization and driver retention and hiring were being negatively affected, and as a result, (c) U.S. Xpress’s dedicated accounts, including one large account, were being negatively impacted; and as a result, (d) U.S. Xpress’s OTR division was providing continued support to the dedicated division; (3) (a) U.S. Xpress failed to stay informed regarding two large liability events; and as a result (b) U.S. Xpress’s insurance claim expense was understated; and (4) U.S. Xpress’s cost per mile for driver wages and independent contractors was exceeding the Company’s internal expectations.
This case was voluntarily dismissed on May 9, 2019. A related case continues under Docket 19-CV-00098. On July 18, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on October 8. Defendants filed Motions to Dismiss the amended Complaint on December 23. On June 30, 2020, the Court issued an Order granting in part and denying in part the Motions to Dismiss.
Company & Securities Information
Defendant: U.S. Xpress Enterprises, Inc.
Headquarters: United States
Ticker Symbol: USX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
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
Benjamin Smith, et al. v. U.S. Xpress Enterprises, Inc., et al.
COURT: E.D. Tennessee
DOCKET #: 19-CV-00078
JUDGE: Hon. Harry S Mattice, Jr
DATE FILED: 03/08/2019
CLASS PERIOD START: 06/15/2018
CLASS PERIOD END: 03/08/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Holifield Janich Rachal & Associates, PLLC
Levi & Korsinsky (Stamford)
First Identified Complaint (FIC) Filings:
Complaint for Violations of the Federal Securities Laws
Notice of Voluntary Dismissal
U.S. District Court Civil Docket
Deirdre Terry, et al. v. U.S. Xpress Enterprises, Inc., et al.