CONTACT KTMC

Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against XPO Logistics, Inc. for Securities Fraud Violations
Company Name: XPO Logistics, Inc.
Court: United States District Court for the Southern District of New York
Case Number: 18-cv-11741
Judge: The Hon. Paul G. Gardephe
Class period: between August 10, 2015 and December 13, 2018
Security Type: Common stock

Case Background:

On December 14, 2018, the initial complaint in this securities class action was filed against XPO Logistics, Inc. (“XPO” or the “Company”), and certain of XPO’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.  

The complaint alleged that during the class period, XPO was "cooking its books" to make it appear that it was performing better than it was. The defendants engaged in fraudulent accounting schemes and other improper accounting practices. At the core of the defendants' fraudulent scheme was the method by which the Company accounted for its numerous acquisitions, dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable acquisition earn-out liabilities, and aggressive amortization assumptions: all designed to portray glowing "Non-GAAP" results. Meanwhile, throughout the class period, the defendants represented that XPO's financial statements complied with GAAP.

This is a federal securities class action brought on behalf of a class of those who purchased or otherwise acquired XPO common stock between August 10, 2015 and December 13, 2018, inclusive.

Current Status of Case:

This action was voluntarily dismissed by the plaintiff on January 9, 2019.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484-270-1453) or Adrienne Bell, Esq. (484-270-1435); toll-free at (844) 887-9500; or via e-mail at info@ktmc.com.  If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

Please complete this form relating to your transactions for  XPO Logistics, Inc. (NYSE: XPO) securities between August 10, 2015 and December 13, 2018, both dates inclusive (the “Class Period”).

You may also contact James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435 or toll free at (844) 887-9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.

* Denotes required field
 
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of XPO Logistics, Inc. (2019) prior to the Class Period?
Are you a current or former employee of XPO Logistics, Inc. (2019)?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
I agree to the KTMC
disclaimer
I would like to receive
new case alerts by email