Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of XPO Logistics,
Inc. Investors
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased XPO
Logistics, Inc. (“XPO” or the “Company”) (NYSE:
XPO) securities between February 26, 2014 and December 12, 2018, inclusive (the “Class Period”). XPO investors
have until February 12, 2019 to file a lead plaintiff motion.
Investors suffering losses on their XPO investments are encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On December 12, 2018, Spruce Point Capital Management (“Spruce Point”) published a report asserting that a “forensic
investigation” into XPO had revealed “financial irregularities that conveniently cover [the Company’s] growing financial strain and
inability to complete additional acquisitions despite repeated promises.” Specifically, Spruce Point reported that it had
discovered, among other issues, “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.” On this news, XPO’s share price fell $15.77 per share, or more than 26%, to close at $44.50 on December 13,
2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or
misleading statements and/or failed to disclose that: (1) XPO’s highly touted aggressive M&A strategy had yielded only minimal
returns to the Company; (2) XPO was utilizing improper accounting practices to mask its true financial condition,
including, inter alia, under-reporting of bad debts and aggressive amortization assumptions; and (3) as a result, the
Company’s public statements were materially false and misleading at all relevant times.
If you purchased shares of XPO, have information or would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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