NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against YRC Worldwide Inc. (“YRC” or the “Company”) (NASDAQ: YRCW) and other defendants, related to alleged violations of federal securities laws. If you purchased YRC securities between March 10, 2014 and December 14, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information.
YRC provides various transportation services primarily in North America.
According to the lawsuit, defendants made 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.
The truth was revealed on December 14, 2018, when the United States 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 purchased YRC securities between March 10, 2014 and December 14, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org. The lead plaintiff deadline is March 4, 2019.
About Scott+Scott Attorneys at Law LLP
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, Connecticut, California, and Ohio.