SAN FRANCISCO, June 27, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, alerts investors in FedEx Corporation (NYSE: FDX) to the securities class action, Rhode Island Laborers’ Pension Fund v. FedEx Corporation et al, No. 1:19cv05990, filed in the United States District Court for the Southern District of New York.
If you purchased or otherwise acquired FedEx securities between September 19, 2017 and December 18, 2018 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than August 26, 2019 (the “Lead Plaintiff Deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
https://www.hbsslaw.com/hagens-berman-investor-fraud-center/fedex-corporation-nyse-fdx
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misled investors by downplaying the significance of a massive cyberattack on FedEx’s acquired TNT Express N.V. business. More specifically, according to the complaint, Defendants misrepresented and concealed that (1) TNT’s customers permanently took their business to competitors after the cyberattack, (2) TNT experienced an increased shift toward lower-margin freight services, and (3) the significant costs and timeframe to successfully integrate and restore TNT’s business.
“We’re focused on investors’ losses and the extent to which Defendants may have misled investors about TNT’s deteriorating business,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding FedEx should consider their options to help in the lawsuit or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email FDX@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000