According to the Complaint, United Parcel Service, Inc. is a multinational parcel delivery and supply chain management solutions company operating in more than 200 countries and territories. UPS provides same day and overnight air delivery, definite-date ground delivery, and SurePost, which provides non-urgent deliveries with the final leg provided by the U.S. Postal Service. This class action was filed against the Company and three individual Defendants.

During the Class Period, Defendants provided investors with material information concerning the Company’s expected revenue and growth for the fiscal year 2024. Defendants’ statements included, among other things, confidence in the Company’s volume growth, price discipline, cost execution, and its overall ability to handle volume variabilities.

The Complaint alleges that Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of UPS’ growth; notably, that it was not truly equipped to handle a surge in volume in lower-profit services without seeing a significant decline in their operating margins. The Complaint further alleges that such statements absent these material facts caused shareholders to purchase UPS’ securities at artificially inflated prices.

Plaintiff voluntarily dismissed the case on November 14, 2024.