YRCW Class Action Lawsuit: Bernstein Liebhard LLP Announces That a Securities Class Action Lawsuit has Been Filed Against YRC Worldwide Inc. – YRCW
NEW YORK, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of YRC Worldwide Inc. (“YRC” or the “Company”) (NASDAQ: YRCW) between March 10, 2014 and December 14, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover YRC shareholders’ investment losses.
If you purchased YRC securities, and/or would like to discuss your legal rights and options, please visit YRC Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or firstname.lastname@example.org.
According to the lawsuit, 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’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 to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and (4) as a result, YRC’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On December 14, 2018, the U.S. Department of Justice (“DOJ”) issued a press release stating that it had filed a complaint against YRC entities for “systematically overcharg[ing] the government for freight carrier services and ma[king] false statements to the government that hid their misconduct.” That same day, The Wall Street Journal reported on the DOJ’s lawsuit against YRC’s units over military shipments from 2005 to at least 2013.
On this news, YRC stock fell $1.26 per share, or over 28%, from its previous closing price to close at $3.17 per share on December 14, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than March 4, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased YRC securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/yrc-worldwide-inc-yrcw-lawsuit-class-action-fraud-stock-105/ or contact Daniel Sadeh toll free at (877) 779-1414 or email@example.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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