Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Covenant Logistics Group, Inc. (CVLG) Investigation

NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Covenant Logistics Group, Inc. (“Covenant” or the “Company”) (NASDAQ: CVLG). Investors who purchased Covenant securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/cvlg.

The investigation concerns whether Covenant has violated federal securities laws.

On January 25, 2023, Covenant issued a press release announcing fourth-quarter financial and operating results. Among other items, Covenant reported non-GAAP earnings per share of $1.37, missing consensus estimates by $0.05. Covenant advised investors that the Company had “incurred unusual expense from two items: (i) an early lease abandonment and disposal charge and (ii) excess equipment due to delivery of a large number of new tractors combined with delays in removing existing leased tractors from operations.” On this news, Covenant’s stock price fell $8.42 per share, or 21.91%, to close at $30.01 per share on January 25, 2023.

If you are aware of any facts relating to this investigation or purchased Covenant shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/cvlg. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.