The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of YRC Worldwide Inc. (NASDAQGS: YRCW) who purchased shares between March 10, 2014 and December 14, 2018. The action, which was filed in the United States District Court for the Northern District of New York, alleges that the Company violated federal securities laws.
In particular, the YRC lawsuit alleges that (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, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until March 4, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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