NEW YORK--(BUSINESS WIRE)--Zamansky LLC investigates FedEx Corp. (NYSE: FDX) (“FedEx” or the “Company”) on behalf of its current and former employees for potential violations of the federal Employee Retirement Income Security Act (“ERISA”) in the FedEx Corporation Retirement Savings Plan (the “Plan”). We are investigating whether the ERISA fiduciaries violated duties of prudence by offering FedEx stock to employees who are invested in the Plan.
On June 26, 2019, FedEx was accused in a securities class action lawsuit of misleading investors. According to the Complaint, FedEx made false and misleading statements to the market about the impact of a Cyberattack in 2017 to its integration of its $4.8 billion acquisition of TNT Express, N.V.’s network. FedEx allegedly misstated its costs and progress of its European operations. As a result of the alleged misstatements, FedEx’s stock price has fallen from $220 per share to $160 per share.
According to employee stock fraud attorney Jake Zamansky, current or former employees of FedEx who purchased and held Company stock through the Plan may have had their retirement savings damaged. The class action allegations raise serious issues as to whether the Plan’s fiduciaries properly executed their duties under ERISA to protect employees’ retirement savings from imprudent and inappropriate investments, Zamansky states.
What Current and Former FedEx Employees Can Do
If you are an existing or former FedEx employee who purchased and held FedEx stock through the Retirement Savings Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at firstname.lastname@example.org.
About Zamansky LLC
Zamansky LLC is a leading stock law firm with a practice focused on securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, https://www.zamansky.com.