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FedEx Shareholder Alert: Class Action Lawsuit Filed

BOSTON, MA / ACCESSWIRE / July 17, 2019 / Thornton Law Firm LLP announces that it has filed a lawsuit against FedEx Corporation on behalf of FedEx shareholders (FDX) alleging violations of the federal securities laws. The lawsuit seeks to recover on behalf of all FedEx investors who purchased FedEx stock between September 19, 2017 and December 18, 2018. FedEx investors who are interested to learn more about the case are encouraged to contact the Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917.

Any interested FedEx shareholders have until August 26, 2019 to apply to be lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you are interested in serving as a lead plaintiff, please contact the Thornton Law Firm’s shareholder rights team at shareholder@tenlaw.com, or call 617-531-3917.

The lawsuit alleges that after the crippling cyber-attack known as NotPetya, FedEx falsely assured investors that its negative impact on newly acquired business, TNT, was minimal and recovery was on track. Allegedly, false and misleading statements were made in regard to the anticipated costs and timeframe it would take to integrate and restore the TNT network. FedEx is also alleged to have failed to disclose important details of TNT’s deteriorating business, including slowed down overall package volume growth, an increased shift in product mix from higher-margin parcel services to lower-margin freight services, and failure to stay on track to achieve synergy targets. As a result of this news becoming public, FedEx stock dropped over 12 percent. The lawsuit seeks to recover this loss for shareholders who purchased during the Class Period.

Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

SOURCE: Thornton Law Firm LLP

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