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Knight-Swift Transportation Holdings Inc. Announces Litigation Settlement

PHOENIX--(BUSINESS WIRE)--

Knight-Swift Transportation Holdings Inc. (KNX) today announced that the parties have reached a settlement, subject to approval by the court, in the litigation entitled, Van Dusen, et al. v. Swift Transportation Co. of Arizona, LLC, et al that was instituted prior to the 2017 merger between Knight Transportation, Inc. and Swift Transportation Company. The estimated settlement amount was fully reserved on the Company’s balance sheet as of December 31, 2018. The Company does not expect that the settlement will have a material impact on its future results of operations.

Knight-Swift Transportation Holdings Inc. is a provider of multiple truckload transportation and logistics services using a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating North America's largest tractor fleet, Knight-Swift also contracts with third-party equipment providers to provide a broad range of truckload services to its customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements related to the impact of the settlement on the Company’s future results of operations. Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Readers should review and consider the factors that may affect future results and other disclosures in the Risk Factors section of Knight-Swift Transportation Holdings Inc.'s Annual Reports on Form 10-K for the year ended December 31, 2018, and various disclosures in our Quarterly Reports on Form 10-Q, press releases, stockholder reports, and other filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.

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