SAN DIEGO, Dec. 1, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed by a current investor in shares of FedEx Corporation (FDX) over alleged breaches of fiduciary duties by certain directors over the alleged business practice of allegedly knowingly shipping illegal drugs from online pharmacies, which has led to criminal indictments for alleged drug trafficking and money laundering.
If you are a current long-term stockholder in shares of FedEx Corporation (NYSE:FDX), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that FedEx was allegedly aware that it shipped illegal prescription drugs and that FedEx' Founder, CEO and Chairman of the Board among others refuse to take responsibility for their failure to correct known problems.
On July 17, 2014, the FDA announced that the U.S. Attorney for the Northern District of California charged FedEx with conspiring with two separate but related online pharmacy organizations to distribute controlled substances and prescription drugs to U.S. consumers without requiring their customers to have a valid prescription. On the same day FedEx Corporation announced that it has received, "requests for information from the U.S. Department of Justice ("DOJ") in the Northern District of California in connection with a criminal investigation relating to the transportation of packages for online pharmacies that may have shipped pharmaceuticals in violation of federal law. On July 17, 2014, the DOJ filed a criminal indictment in the United States District Court for the Northern District of California in connection with the matter. The indictment alleges that FedEx Corporation, FedEx Express and FedEx Services, together with certain pharmacies, conspired to unlawfully distribute controlled substances, unlawfully distributed controlled substances and conspired to unlawfully distribute misbranded drugs."
On August 15, 2014, it was reported that according to a court filing FedEx Corporation was indicted in a U.S. criminal case for alleged conspiracy to launder money over deliveries for illegal online pharmacies. The indictment reportedly said that FedEx Corporation delivered controlled substances and prescription drugs from online pharmacies to individuals who subsequently died or accidentally caused the death of others. FedEx Corporation reportedly could be fined $1.6 billion.
Those who are current long-term stockholders of FedEx Corporation shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.