Shareholder rights law firm Robbins Arroyo LLP reminds investors that purchasers of YRC Worldwide Inc. (NASDAQ: YRCW) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 10, 2014 and December 14, 2018. YRC Worldwide Inc. is a holding company that, through its operating subsidiaries, offers its customers a wide range of transportation services.
If you suffered a loss as a result of YRC's misconduct, click here.
YRC Worldwide Inc. (YRCW) Accused of Defrauding Government
According to the complaint, YRC made false and misleading statements to the market from 2014 to 2018. On December 14, 2018, the Justice Department issued a press release revealing that it had filed a complaint against YRC for systematically overcharging the government. That same day, the Wall Street Journal reported on the lawsuit against YRC's units over military shipments from 2005 to at least 2013, stating that YRC had overcharged the Pentagon millions of dollars for shipping over several years and defrauded the Department of Defense by inflating weight measurements on bills. On this news, YRC stock declined drastically and currently trades at around $2.00, a more than 90% decline from its class period high of $28.11.
YRC Inc. (YRCW) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsarroyo.com
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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. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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