NEW YORK--(BUSINESS WIRE)--
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of YRC Worldwide Inc. (“YRC”) (YRCW) breached their fiduciary duties to YRC and its shareholders. If you are a YRC shareholder, you may contact attorney Joe Pettigrew for additional information: 844-818-6982 or email@example.com.
Scott+Scott is investigating whether members of YRC’s Board of Directors (the “Board”) made false and/or misleading statements, as well as failed to disclose material adverse facts, about YRC’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) from 2005 to at least 2013, YRC’s units systematically overcharged the federal government for freight carrier services; (2) this alleged misconduct caused the Department of Defense to overpay by millions of dollars for shipments that were lighter, and thus cheaper, than the weights for which the government was charged; (3) consequently, this alleged misconduct would subject YRC to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and (4) as a result, YRC’s public statements were materially false and misleading at all relevant times.
On December 14, 2018, the U.S. Department of Justice filed a civil complaint in the U.S. District Court for the Western District of New York against YRC entities alleging that the government was systematically overcharged by YRC for freight carrier services and that YRC entities made false statements to the government that hid their misconduct.
On this news, shares of YRC fell $1.26 per share – over 28% – to close at $3.17 per share on December 14, 2018.
What You Can Do
If you are a YRC shareholder, you may have legal claims against YRC’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.