NEW ORLEANS, Jan. 25, 2019 (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 securities class action lawsuits against XPO Logistics, Inc. (NYSE: XPO), if they purchased the Company’s securities between February 26, 2014, and December 13, 2018, inclusive (the “Class Period”). These actions are pending in the United States District Courts for the District of Connecticut and Southern District of New York.
What You May Do
If you purchased securities of XPO and would like to discuss your legal rights and how these cases 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 these class actions, you must petition the Courts by February 12, 2019.
About the Lawsuits
XPO and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 13, 2018, Spruce Point Capital Management reported that its lengthy 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 [covering] growing financial strain,” among other findings.
On this news, the price of XPO’s shares plummeted $15.77 per share, or 26.17%.
The first case filed is Labul v. Xpo Logistics, Inc., 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