NEW ORLEANS, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 12, 2019 to file lead plaintiff applications in a securities class action lawsuit against XPO Logistics, Inc. (NYSE: XPO), if they purchased the Company’s securities between February 26, 2014, and December 12, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
What You May Do
If you purchased securities of XPO and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-xpo/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 12, 2019.
About the Lawsuit
XPO and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 12, 2018, Spruce Point Capital Management reported an investigation into XPO revealed “concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out liabilities, and aggressive amortization assumptions: all designed to portray glowing ‘Non-GAAP' results” and “financial irregularities that conveniently cover [the Company’s] growing financial strain and inability to complete additional acquisitions despite repeated promises.”
On this news, the price of XPO’s shares plummeted.
The case is Labul v. Xpo Logistics, Inc. et al, 18-cv-02062.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163