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Glancy Prongay & Murray LLP Announces Investigation on Behalf of XPO Logistics, Inc. Investors (XPO)

December 18, 2018

LOS ANGELES--(BUSINESS WIRE)--Dec 18, 2018--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of XPO Logistics, Inc. investors (“XPO” or the “Company”) (NYSE: XPO ) concerning the Company and its officers’ possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click  here  to participate.

On December 12, 2018, Spruce Point Capital Management (“Spruce Point”) published a report asserting that a “forensic investigation” into XPO had revealed “financial irregularities that conveniently cover [the Company’s] growing financial strain and inability to complete additional acquisitions despite repeated promises.” Specifically, Spruce Point reported that it had discovered, among other issues, “concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out labilities, and aggressive amortization assumptions: all designed to portray glowing ‘Non-GAAP’ results.” On this news, XPO’s share price fell $15.77 per share, or more than 26%, to close at $44.50 on December 13, 2018, thereby injuring investors.

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If you purchased XPO securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181218005440/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 12/18/2018 10:30 AM/DISC: 12/18/2018 10:30 AM

http://www.businesswire.com/news/home/20181218005440/en

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