YRC WORLDWIDE INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for Northern District of New York against YRC Worldwide Inc.
NEW YORK, Jan. 09, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of New York on behalf of all persons or entities that purchased YRC Worldwide Inc. (“YRC” or the “Company”) (NASDAQ: YRCW) securities between November 8, 2018 and December 21, 2018, inclusive (the “Class Period”).
Investors who have incurred losses in the shares of YRC Worldwide Inc. are urged to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of YRC Worldwide Inc., you may, no later than March 4, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in YRC Worldwide Inc.
The filed Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that:
-- from 2005 to at least 2013, YRC’s units systematically overcharged the federal government for freight carrier services; -- 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; -- consequently, this alleged misconduct would subject YRC to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and -- as a result, YRC’s public statements were materially false and misleading at all relevant times.
On December 14, 2018, The Wall Street Journal reported that the United States Department of Justice had filed a complaint alleging that YRC Worldwide “made false statements to the government and defrauded the Department of Defense by inflating weight measurements on bills” from 2005 to at least 2013.
Specifically, it is alleged that workers for the Company reweighed thousands of shipments and didn’t disclose the results when those weights came in under the original estimate. On this news, shares of YRC Worldwide stock fell $1.26 per share or over 28% to close at $3.17 per share on December 14, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: email@example.com, firstname.lastname@example.org or email@example.com Tel: (800) 575-0735 or (212) 545-4774
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