The Klein Law Firm announces that a securities complaint has been filed on behalf of shareholders of U.S. Xpress Enterprises, Inc. (NYSE: USX) who purchased common shares pursuant and/or traceable to the June 2018 Initial Public Offering.
The complaint alleges that the Offering Documents failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress’s dedicated division; (2) (a) certain shipping patterns had been performing differently than expected and, as a result, (b) utilization, driver retention and hiring were being negatively affected, and as a result, (c) U.S. Xpress’s dedicated accounts, including one large account, were being negatively impacted; and as a result, (d) U.S. Xpress’s OTR division was providing continued support to the dedicated division; (3) (a) U.S. Xpress failed to stay informed regarding two large liability events; and as a result (b) U.S. Xpress’s insurance claim expense was understated; and (4) U.S. Xpress’s cost per mile for driver wages and independent contractors was exceeding the Company’s internal expectations.
If you suffered a loss in U.S. Xpress you have until May 10, 2019 to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require you serve as a lead plaintiff.
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