Shareholder rights law firm Robbins
Arroyo LLP announces that a purchaser of YRC Worldwide Inc. (NASDAQ:
YRCW) filed a derivative complaint against the company's officers and
directors for breaches of fiduciary duties, unjust enrichment, and waste
of corporate assets from March 10, 2014 through December 14, 2018. YRC
Worldwide Inc. is a holding company that, through its operating
subsidiaries, offers its customers a wide range of transportation
services.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/yrc-worldwide-may-19/
YRC Worldwide Accused of Defrauding Government
According to the complaint, YRC has violated the False Claims Act since
at least 2005 by defrauding the United States Department of Defense for
freight carrier services. On December 14, 2018, the Justice Department
revealed that it had filed a complaint against YRC for systematically
overcharging the government. On this news, YRC stock declined
drastically and still trades significantly below its class period high
of $28.11. Before the fraud was exposed, however, company insiders not
only failed to maintain an adequate system of oversight, disclosure
controls and procedures, and internal controls, but also sold almost $9
million of stock at artificially inflated prices.
YRC Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch.
Attorney Advertising. Past results do not guarantee a similar outcome.
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