Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against YRC Worldwide Inc. (YRCW)
Law Offices of Howard G. Smith reminds investors of the March 4, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased YRC Worldwide Inc. (“YRC” or the “Company”) (NASDAQ: YRCW) securities between March 10, 2014, and December 14, 2018, inclusive (the “Class Period”).
Investors suffering losses on their YRC investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
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 if you meet certain legal requirements. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.
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