LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired YRC Worldwide Inc. (“YRC” or the “Company”) (NASDAQ: YRCW) securities between March 10, 2014, and December 14, 2018, inclusive (the “Class Period”). YRC investors have until March 4, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On December 14, 2018, The Wall Street Journal reported that the U.S. Department of Justice had filed a complaint alleging that YRC “made false statements to the government and defrauded the Department of Defense by inflating measurements on bills” from 2005 to 2013. On this news, shares of YRC Worldwide fell $1.26 per share or over 28% to close at $3.17 on December 14, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose 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, YRC’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of YRC during the Class Period you may move the Court no later than March 4, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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